The US and the EU will end the trade dispute between Boeing and Airbus

News

The US and the EU will end the trade dispute between Boeing and Airbus

17.06.2021 News

Authorities in the United States and the European Union have agreed to end a long-running trade dispute over the aerospace concerns Boeing and Airbus, which has resulted in mutual tariffs of more than $ 10 billion, said Catherine Ty, the US representative at the trade talks.

“The US-EU agreement marks significant progress in reaching a long-term solution to this 16-year dispute,” she said.

French Minister of Economy, Finance and Reconstruction Bruno Le Mer has already welcomed the agreement. According to him, “this is a good deal.” And the French Foreign Ministry’s delegate, Frank Rister, who oversees foreign trade, said it was “great news for French and European companies.”

Bloomberg was the first to report on the agreements, citing EU officials. According to him, the agreement is due to growing awareness among politicians in Brussels and Washington that the state-funded Chinese Commercial Aviation Corporation (COMAC) could become a full-fledged competitor to Boeing and Airbus by the end of the decade and weaken their positions in the aircraft industry.

According to Bloomberg, the EU-US summit is also planned to reach an agreement on the abolition of tariffs on steel and aluminum, introduced by Washington in 2018 “for reasons of national security.”

 

The trade dispute between Brussels and Washington over Boeing and Airbus is one of the longest and largest in the history of the World Trade Organization. The United States has accused the EU of illegally subsidizing Airbus since 2004. And the EU has made similar accusations against Washington about Boeing.

In 2019, the WTO Dispute Settlement Body recognized a violation of the organization’s rules in the Airbus case, which gave the United States the right to impose duties. However, in 2020, a similar decision was made in favor of the EU in the Boeing case. In fact, the WTO has acknowledged that both sides are violating international trade rules within the organization, creating preferences for their aircraft manufacturers.

In October 2019, the administration of Donald Trump, then President of the United States, imposed a 25 percent tariff on goods from EU countries totaling approximately $ 7.5 billion. On November 9, 2020, the European Union responded to this step by introducing its tariffs on agricultural and industrial goods from the United States totaling € 3.4 billion (about $ 4 billion) per year.

However, in March, EC President Ursula von der Leyen and US President Joe Biden agreed to freeze reciprocal tariffs for four months.

Other articles

Read also

The US and the EU will end the trade dispute between Boeing and Airbus
News

Berkshire Hathaway buys Dominion Energy assets for $10 billion

On Sunday, Dominion Energy, one of the largest energy companies in the United States, announced a final agreement to sell virtually all of its assets in the gas transportation and storage segment of Berkshire Hathaway Inc. under a deal valued at $9.7 billion, including its current debt of $5.7 billion. The deal with Dominion will […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Apple employees refuse to return to the office

Apple employees opposed the corporation’s new rule, which requires them to work from the office at least three days a week from the fall. Verg, citing a letter from employees to the head of the corporation Tim Cook, reported this. The letter refers to the refusal of many employees to return to the office. The […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Walmart has joined to Microsoft in an attempt to buy TikTok’s assets in the United States

American Walmart announced its decision to join Microsoft and to participate together in the struggle for the acquisition of Chinese business TikTok in USA, Canada, Australia and New Zealand. “The way, how TikTok has integrated e-commerce and advertising capabilities in other markets, will be a clear advantage for creators and users in the particular markets,” […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Agrotrade extended the cooperation with the EBRD

The “Agrotrade” Company Group renegotiated long-term agreements with the European Bank for Reconstruction and Development (EBRD) for the next 5 years, – said the press service of the company. According to the report, it will be key to the success of the Group companies, to improve the investment climate in the region, economic development and […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Buffett’s company increased a quarterly net profit to 87%

The investment company of billionaire Warren Buffett’s Berkshire Hathaway in the II quarter 2020 net income increased due to higher cost of investment after the rise of stock markets and the collapse in the first quarter due to coronavirus pandemic. During the reporting period the company received $ 26.3 billion in net profit to $ […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

The former head of Ukrzaliznytsia demands 17 million hryvnias in court

Former head of Ukrzaliznytsia Volodymyr Zhmak filed a lawsuit demanding that the company’s order to terminate his employment contract be declared illegal. This was reported by Interfax-Ukraine with reference to the materials of the court proceedings №2 / 761/9699/2021, which were published in the Unified Register of Court Decisions. Zhmak asks to reinstate him as […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

PayPal has expanded its cryptocurrency service to all US users

PayPal Holdings has fulfilled its promise made last month by making its PayPal Cryptocurrency application available to all registered users in the United States. On October 21, the service was launched in test mode for a limited number of users. Commenting on the November 2 financial report, PayPal CEO Dan Shulman said that only 10% […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Investment from China: $ 1.5 billion in Kyiv transport infrastructure

According to Ilia Sahaidak – a deputy chairman of the KSCA, a building company CRBC from China intends to implement the “turnkey construction project” of Velyka Kiltseva Doroha, the track Nyvky – Brovary, and in addition, road interchange near the metro station Shuliavska. Sahaidak noted that the Chinese company in this matter demonstrates great skill […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

DuPont will dismiss nearly 2,000 employees in a global merger with Dow Chemical

Recently, two major global corporations in the Chemistry industry DuPont and Dow Chemical signed a merger deal. After closing, the new company will be called DowDuPont, it will be headed by the current head of Dow Chemical – Andrew Liveris. A few days ago, DuPont told reporters about plans to hold a global reduction of […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Intel will sell for $ 9 billion divisions to produce memory chips

Intel Corp. sells to South Korean the SK Hynix Inc. unit in the field of manufacture NAND memory chips and the storage devices for $ 9 billion. The agreement includes manufacturing operations for NAND chips SSD-drives, NAND components and semiconductor wafers, said in the press release from Intel. SK Hynix will also receive the plant […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Nine people have become billionaires thanks to COVID vaccines

The invention and distribution of coronavirus vaccines have made nine people billionaires. Euronews reported this with reference to the data of non-governmental organizations. “Nine new billionaires have a combined net worth of $ 19.3 billion, which is enough to fully vaccinate all people in low-income countries 1.3 times. Meanwhile, those countries have received only 0.2 […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Nissan Motor suffered a loss of $ 3.1 billion

The net loss of the Japanese automaker Nissan Motor in the first half of 2020-2021 fiscal year amounted to 330 billion yen ($ 3.1 billion) against a profit of 65.4 billion yen (about $ 620 million) a year earlier, follows from the financial statements of the company. The loss per share was 84.33 yen ($ […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

The largest producer of chicken meat received $8 million losses

As Interfax-Ukraine reported, Mironivsky Hliboproduct Agricultural holding   finished the third quarter 2016 with the net loss of $8 million against $24 million a net profit last year. Following the results of nine months the net profit of the company  is constituted $86 million The Mironivsky Hliboproduct Agricultural holding (MHA)  has received 8 million dollars […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Ukraine doesn’t enter in world steel top-10

Following the results of October 2016 Ukraine has remained beyond limits top-10 of  the largest global manufacturers of steel. According to world steel association, the Ukrainian metallurgists made 1,93 million tonnes that are 6,1% less, than the previous year. However, it is slightly better than the result of September 2016.Italy again forced Ukraine from top-10 […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Ukraine plans to sell the Odessa Port Factory with the discount

The State Property Fund (SPF) of Ukraine expects to announce the second tender for sale of “Odessa Port Plant” in late summer – early autumn. This was stated by Igor Bilous, head of the State Property Fund at a press conference in Kyiv on Tuesday. “We expect to start the second round at the end of […]

Next
The US and the EU will end the trade dispute between Boeing and Airbus
News

Belarus to reduce gasoline exports to Ukraine

The Belarusian oil company will reduce the supply of A-95 gasoline to Ukraine in June by more than five times – up to 10 thousand tons. This was reported by enkorr citing a source. It is noted that the decision was made after the news of the BNC’s intention to reset the supply of this […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com