English
America and the European Union suspend customs duties in an effort to resolve the trade dispute between Boeing and Airbus
The president of the European Commission said Friday that the United States and the European Union will suspend customs duties for a period of four months in an effort to resolve the trade dispute between Boeing and Airbus.
It is reported that the agreement is a step towards resolving the 17-year-old conflict that led to the imposition of retaliatory tariffs on billions of dollars in goods that affected a group of exports from both sides of the Atlantic.
European Commission President Ursula von der Leyen said she spoke with US President Joe Biden about the issue by phone on Friday.
"We are both committed to focusing on resolving our aircraft disputes, based on the work of our commercial representatives," she said in a statement.
"This is excellent news for companies and industries on both sides of the Atlantic, and it is a very positive sign for our economic cooperation in the years to come."
The White House said Biden and von der Leyen discussed cooperation across the Atlantic to help stop the spread of Corona, measures to improve the economy, climate change and other issues.
The progress toward resolving the dispute comes as a relief to Boeing and Airbus, which are experiencing weak travel and aircraft demand due to the Coronavirus pandemic.
