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This is good news for the trade in billions of euros worth of goods threatened to be affected or affected by the surcharges on products ranging from European wine to American tobacco and spirits.
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Over the next five years, the two powers will address the subsidies already in place for Boeing and Airbus, US Trade Ambassador Katherine Toy said during President Joe Biden’s visit to EU headquarters in Brussels.
The EU and the United States have accused each other of unfairly supporting their aircraft manufacturers for years. According to Europeans, Washington illegally supports Boeing and Airbus, which are jointly owned by Germany, France, Spain and the United Kingdom, and have fined us billions of euros and dollars each for receiving illegal subsidies from European countries.
Sanctions have already been put in place
In March, shortly after the inauguration of new President Joe Biden, both sides suspended their sanctions for four months. That period has now been extended to five years, Tai said.
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