US and European Union put tariff threats on hold in long-running Boeing vs. Airbus dispute

The United States and the European Union have agreed on a five-year suspension in tit-for-tat tariffs over a 17-year-long trade dispute that involved subsidies given to Boeing and Airbus for airplane development. The deal, announced today during President Joe Biden’s meetings with EU leaders in Brussels, heads off billions of dollars in duties that could have affected a wide range of products — although U.S. Trade Representative Katherine Tai said the tariffs could be reactivated if “U.S. producers are not able to compete fairly.” Tax breaks that Washington state provided to Boeing for in-state 787 and 777X production figured in the dispute.