MOSCOW (Pakistan Point News / Sputnik - 15th June, 2021) French President Emmanuel Macron on Tuesday welcomed the accord to resolve the dispute over state support of plane manufacturers Airbus and Boeing, noting that it was the first step in boosting the EU-US relations.
In 2006, the United States filed a case with the World Trade Organization (WTO) accusing European Union aircraft manufacturer Airbus of having received $22 billion in illegal subsidies. The EU filed a similar counterclaim, launching a long debate, with the WTO having ruled that both sides are illegally subsidizing their respective aircraft companies. Earlier on Tuesday, US Trade Representative Katherine Tai declared that both parties eventually agreed to end the sixteen-year dispute, adding that tariffs would be suspended for five years.
"With the agreement reached on the Airbus-Boeing dispute, American tariffs on French products, including wine, have been lifted. These are the first results of our new relationship with our American partners. This is effective cooperation. This is good news for our wine producers!" Macron tweeted.
The accord was also welcomed by WTO Director-General Ngozi Okonjo-Iweala.
"I am delighted that the European Union and the United States have resolved their dispute over the production of large commercial aircraft," Okonjo-Iweala was quoted as saying in the organization's statement.
The official noted that the Airbus-Boeing dispute was the longest in WTO history.