U.S., EU Reach Deal to Suspend Airplane Tariffs

The United States has reached an agreement with the European Union to suspend tariffs that are part of a nearly two-decade-old dispute over aircraft subsidies, potentially ending the long-running trade battle between Boeing (NYSE: BA) and Airbus (OTC: EADSY). The U.S. had already imposed tariffs on certain Airbus imports as part of a broader $7.5 billion tariff package. On Friday, European Commission President Ursula von der Leyen, in a statement following a phone call with President Joe Biden, said the two sides have agreed to a four-month suspension of aerospace tariffs to allow time for a final deal to be worked out.