The US and the European Union agreed to suspend their trade dispute over government subsidies to Boeing Co. and Airbus SE, significantly easing tensions amid a wider effort to improve trans-Atlantic relations.The agreement would elevate for five years tariffs that have been authorized by the World Trade Organization and had been temporarily suspended in March.âWe have resolved these disputes because we are putting away our litigation briefcases,â US Trade Rep. Katherine Tai said in a statement on Tuesday. The US and EU are now focused on âwhat is going to be best for competition between us in the context of a world where our industries and workers will be facing competition as weâve never seen before,â she stated.The 17-year trade fight is the longest and most costly in the history of the WTO. US importers have paid more than $1.1 billion of tariffs since the duties in the dispute took effect in 2019, according to data from US Customs and Border Protection.
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