In an unprecedented joint statement on March 5, 2021, the Office of the United States Trade Representative issued a joint statement with the European Union announcing a mutual, temporary four-month suspension on all tariffs, both aircraft and non-aircraft products, related to the World Trade Organization (WTO) Large Civil Aircraft dispute.
“This will allow the EU and the US to ease the burden on their industries and workers and focus efforts towards resolving these long running disputes at the WTO.
The EU and the US are committed to reach a comprehensive and durable negotiated solution to the Aircraft disputes. Key elements of a negotiated solution will include disciplines on future support in this sector, outstanding support measures, monitoring and enforcement, and addressing the trade distortive practices of and challenges posed by new entrants to the sector from non-market economies, such as China.”
EFFECTIVE DATE
The tariff suspension will become effective as soon as the internal procedures on both sides have been defined and announced.
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