The U.S. and the European Union have agreed to suspend for four months all tariffs imposed in the trade dispute over subsidies to Airbus SE and Boeing Co. , European Commission President Ursula von der Leyen said.
Ms. von der Leyen said Friday that the two sides would work to fully resolve the yearslong dispute. The Commission president said the joint decision was a symbol of a fresh start for the trans-Atlantic relationship.
Ms. von der Leyen said she had spoken to President Biden earlier Friday. “This is excellent news for businesses and industries on both sides of the Atlantic, and a very positive signal for our economic cooperation in the years to come,” she said.
The White House put out a statement shortly after the EU announcement. “Noting our shared values and the world’s largest trade and investment relationship, the leaders agreed to suspend the tariffs related to the World Trade Organization (WTO) Aircraft disputes for four months and to work toward resolving these long-running disputes at the WTO,” the statement said.
Airbus welcomed the decision and said it supports “all necessary actions to create a level-playing field and continue to support a negotiated settlement of this longstanding dispute in order to avoid lose-lose tariffs.”