Today, the US and EU announced that they have reached a deal related to the Boeing – Airbus dispute. This marks the end of the longest running quarrel in the history of the World Trade Organization (WTO).

According to the official White House Press release, the US and EU will suspend tariffs for five years and work together to challenge and counter China’s non-market practices.

To help support their efforts, US and EU officials have agreed to the following measures:

  • Suspend the tariffs related to this dispute for 5 years; however, the US retains the right to reapply tariffs if the playing field shifts in the EU’s favor.
  • Establish a Working Group to analyze and overcome any disagreements that may arise between the sides; this group will meet at least every 6 months or upon request.
  • Ensure that both US and EU workers and industries can compete on a level playing field.
  • Work together to confront the threat faced from China’s efforts to disrupt global markets.

Click here to read the press release from the European Commission.

Please reach out to [email protected] with any questions.

Shapiro will continue to monitor the situation and provide status updates as they become available.