Original title: Foreign media: Europe and the United States may reach an agreement to end the 17-year aircraft subsidy war
China News Service, June 15 According to a Reuters report on the 14th, people familiar with the situation said that the United States and Europe are speeding up their efforts to reach an agreement to end a 17-year dispute over aircraft subsidies.
According to reports, if an agreement can be reached to end or to suspend the trade dispute between the two sides, dozens of other affected industries will feel relieved; if the negotiations do not progress, the tariff war will reignite within a few weeks.
According to reports, the United States and the European Union agreed in March to suspend the tit-for-tat tariff war. Today, the European Commission responsible for EU trade policy and the United States are eager to find a solution before July 11, when the tariff moratorium will end.
On June 14, US Trade Representative Dai Qi and EU Executive Committee Vice President Donbrowski discussed the trade dispute face to face for the first time. Dai Qi will travel to the UK shortly thereafter.
The two parties negotiated two sets of agreements on new aerospace regulations, one set between the original contracting parties, the United States and the European Union; the other set is an agreement between Washington and London after Brexit.
One of the sources said that unless a detailed agreement is reached, they may choose a suspension agreement that will delay the resumption of tariffs for several years, but has not yet made a final decision.
The report pointed out that trade experts said that the agreement to stop aircraft subsidies disputes (some of which have been cancelled or reduced) will allow both parties more time to focus on a broader agenda.
According to previous reports, the aviation subsidy disputes between the United States, the United Kingdom and the European Union can be traced back to 2004. The World Trade Organization has successively ruled that both the United States and European countries have provided illegal subsidies to their respective aviation companies. In October 2019, the World Trade Organization authorized the United States to impose additional tariffs and other retaliatory measures against approximately US$7.5 billion of EU goods and services exported to the United States each year. In October 2020, the WTO authorized the EU to impose additional tariffs on goods and services from the United States not exceeding US$3.99 billion each year.
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