US-EU Reach Agreement to Suspend Airbus-Boeing Trade Dispute
Good news today out of Belgium as the Associated Press is reporting that the United States and the European Union have come to an agreement in the Airbus-Boeing trade disputes.
“U.S. Trade Representative Katherine Tai said the two sides have come to terms on a five-year agreement to suspend the tariffs at the center of the dispute. She said they could be reimplemented if U.S. companies are not able to “compete fairly” with those in Europe.”
The agreement is welcome news as importers have paid an additional 25% in tariffs on certain wines, spirits and olive oils related to the aircraft trade dispute since October 2019.
We will provide further information when official statements and customs clearance guidance is released.
View the full AP news article here