UK Agrees Truce With US on Airbus-Boeing Trade Dispute
18 June 2021 - 12:04AM
Dow Jones News
By Olivia Bugault
The U.K. and the U.S. have reached an agreement to suspend the
17-year trade fight over government subsidies awarded to plane
makers Airbus SE and Boeing Co., the U.K.'s Department for
International Trade said Thursday, two days after a similar peace
deal between Washington and Brussels.
The two sides have agreed to suspend retaliatory tariffs for
five years, which marks a major victory for U.K. industries such as
Scotch Whisky, the ministerial department said.
"The disagreement has hit industries such as cashmere,
machinery, and single-malt Scotch whisky that employ tens of
thousands of people across the UK," the department said. "The
Scotch Whisky Association estimates the tariffs have cost the
sector hundreds of millions of pounds in lost revenue," it
said.
Earlier this year, the U.K. and the U.S. decided to temporarily
suspend the retaliatory tariffs while they negotiated a longer-term
solution to the dispute.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
June 17, 2021 09:51 ET (13:51 GMT)
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