EU and US Suspended Aircraft Taxes

The EU and the US suspended aircraft taxes. The two sides made a joint statement.

The European Union (EU) and the United States have agreed to freeze customs duties in the long-running plane dispute. As a result of the 16-year dispute over aircraft subsidies between the two sides, the EU and the US agreed to suspend tariffs on billions of dollars in imports.   EU and US Made Joint Statement In a joint statement made by the two sides, it was stated that the four-month suspension will cover all US tariffs on EU imports of $ 7.5 billion and all EU taxes on US products worth $ 4 billion. On the other hand, statements were used that this would ease the burden on industry and workers and focus on conflict resolution efforts. The suspension comes after a phone call between US President Joe Biden and President of European Commission Ursula von der Leyen, while the White House said it underlined Joe Biden's support for the European Union and its commitment to repair and revitalize the US-EU partnership.   Source: Bloomberg HT