Boeing and Airbus go to the Paris Air Show 2013.
Fabrice Dimier | Bloomberg | Getty Images
The United States and the European Union will suspend tariffs for four months in connection with a long-running dispute over illegal subsidies to Boeing and Airbus, the president of the European Commission said on Friday.
The agreement is a step towards resolving the 1
European Commission President Ursula von der Leyen said she spoke to US President Joe Biden on the phone on Friday.
The measure would impose tariffs of $ 7.5 billion on goods imported from the EU, including aircraft, cheese and wine, and tariffs of $ 4 billion on EU imports of American aircraft, tractors, vodka and rum and tobacco.  "We are both committed to focusing on resolving our aviation conflicts, based on the work of our respective trade representatives," she said in a statement. "This is good news for businesses and industries on both sides of the Atlantic, and a very positive signal for our economic cooperation in the years to come."
The White House said Biden and von der Leyen discussed transatlantic cooperation to help stop the spread of Covid-19, measures to improve the economy, climate change and other issues.
The progress towards a solution to the dispute comes as a relief to Airbus and Boeing, both of which are struggling with weak travel and jet aircraft demand. due to the Covid-19 pandemic.
"Airbus welcomes the decision to set tariffs to allow negotiations to take place," the manufacturer said in a statement. "We support all necessary measures to create a level playing field and continue to support a negotiated solution to this long-standing dispute to avoid loss-making tariffs."
Correction: The move will suspend obligations 4 billion dollars in EU imports of American aircraft, tractors, vodka and rum and tobacco. An earlier version was wrong about what the duties were.