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US President Joe Biden (left) and French President Emmanuel Macron (centre) speak with European Commission President Ursula von der Leyen after a family photo at the start of the G7 summit in Carbis Bay, Cornwall on June 11, 2021.
Patrick Simansky | AFP | Getty Images
LONDON – European Commission President Ursula von der Leyen said on Tuesday that the United States and the European Union had resolved a 17-year dispute over aircraft support.
“This meeting started with a breakthrough in aircraft,” said von der Leyen, who met President Joe Biden at a US-EU summit in Brussels.
“This really opens a new chapter in our relationship as we go from litigation to cooperating on planes – after 17 years of feuding.” She added, according to Reuters.
This comes after CNBC reported last week that the European Union is pressing the White House to reach an agreement to end trade tariffs imposed during Donald Trump’s presidency, in connection with the dispute between Airbus and Boeing that first emerged in 2004.
Relations between the European Union and the United States fell to their lowest levels during the previous White House administration, with Trump often criticizing Europe, accusing the European Union of being worse than China with its trade practices.
Trump imposed $7.5 billion in tariffs on European products after the World Trade Organization ruled that the European Union had unfairly subsidized Airbus.
Shortly thereafter, the European Union imposed $4 billion in tariffs on American products over another World Trade Organization decision that said the United States had given illegal aid to Boeing.
Boeing shares were up 0.6% in the primary market on Tuesday morning, while Paris-listed Airbus shares were up 0.5%.
This is an evolving story and will be updated soon.
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