Tariffs on products including agricultural goods stemming from the 17-year-old Airbus and Boeing dispute are being lifted as part of a new framework negotiated this week by the US and European Union.
Greta Peisch is General Counsel for the U.S. Trade Representative. “We suspended the tariffs. That’s the most important part of this, for a period of five years and that will provide certainties for both our producers in this sector, their customers, as well as other sectors that were involved.”
Peisch says this agreement is a reset and a new way of thinking about resolving the differences, but she says the five-year tariff suspension does not stop officials from re-instituting tariffs if necessary.
