The US and the EU have agreed to a four-month suspension of tariffs they imposed on each other as punishment for subsidies provided to rival planemakers Airbus and Boeing.

The move affects billions of dollars worth of goods from both countries. including tractors, wine and cheese.

It comes a day after the US agreed to suspend its tariffs on UK imports stemming from the dispute.
The US said the step marked a “fresh start” to US-EU trade relations.

European Commission Executive Vice-President and Trade Commissioner Valdis Dombrovskis also called it a “reset” for the relationship, which grew strained under former President Donald Trump.

“Removing these tariffs is a win-win for both sides, at a time when the pandemic is hurting our workers and our economies,” he said.

“This suspension will help restore confidence and trust, and therefore give us the space to come to a comprehensive and long-lasting negotiated solution.”

(BBC)