Following a summit in Brussels, the United States and EU countries have agreed to put $12 billion worth of retailiatory tariffs on hold for another 5 years as part of a new “cooperative framework” to resolve the long-running WTO dispute over state subsidies for aircraft manufacturers Airbus and Boeing.
What are some of the long-running trade disputes between the U.S. and the European Union causing challenges for transatlantic businesses? U.S. steel and aluminum tariffs are one of them. Find out the rest, and all the details on this upcoming summit, here.
Nearly 90 European and U.S. trade groups last week called on the European Commission President Ursula von der Leyen and U.S. President Joe Biden to permanently remove the EU-US retaliatory tariffs on products unrelated to ongoing transatlantic trade disputes.