Bloomberg by Natalia Drozdiak, Alberto Nardelli, and Bryce Baschuk 6/8/2021
European Union leaders and President Joe Biden will commit to ending outstanding trade battles when they meet next week and promise to remove tariffs related to a steel and aluminum conflict before the end of the year.
That is according to a draft of the conclusions seen by Bloomberg News ahead of an EU-U.S. summit in Brussels on June 15.
It spells out that the allies will agree to resolve disagreements, including a nearly two-decade old aircraft dispute next month that came to a head under the Trump administration and contributed to more than $18 billion in U.S. and EU exports subject to painful levies.
The Americans and Europeans will pledge to finding a solution to the aircraft issue -- which involves illegal government aid provided to Boeing Co. and Airbus SE -- before July 11, according to the draft, which is still subject to changes. The U.S. and EU had already agreed to suspend their aircraft tariffs until July to facilitate a settlement.
More:
https://www.bloomberg.com/news/articles/2021-06-08/u-s-and-europe-to-end-for-good-trump-s-18-billion-tariff-fight?sref=Hpp1MmFS
