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The European Union and United States reached an agreement Friday to suspend tariffs on billions of dollars of each other’s products, easing a 17-year transatlantic dispute over aid to the world’s biggest aircraft makers, according to Bloomberg.
The fight over aid for Airbus SE and Boeing Co. resulted in duties — authorized by the World Trade Organization — that target a combined $11.5 billion in transatlantic trade and affect a range of industrial, agricultural and consumer goods. In November, the EU hit $4 billion worth of tariffs on American products, just a year after the Trump administration ignored European pleas to refrain from imposing levies on $7.5 billion of imports.