UK, US agree truce in Airbus-Boeing dispute
A trade dispute between Britain and the United states involving Boeing and Airbus has been resolved two days after a similar agreement between the Eu and US. The conflict has been going on since 2004 in parallel cases at the World Trade Organization over subsidies for each aircraft firm. The measures were argued to expose the other to unfair competition. Retaliatory tariffs were put on products on both sides due to the conflict.
The US and UK have agreed to suspend the tariffs for five years and will cooperate to tackle unfair trade practices. The countries are focused on improving their trade relationship.
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