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EU, UK envoys urge action to resolve fight with US on aircraft subsidies

EU, UK envoys urge action to resolve fight with US on aircraft subsidies

File photo of a Boeing 787 Dreamliner (left) and an Airbus A380 (right) at the Farnborough air show in Hampshire, England, on Jul 15, 2014. (Photo: AFP PHOTO/LEON NEAL)

WASHINGTON: Envoys from Britain and the European Union on Monday (Feb 8) underscored their willingness to negotiate with the new US government to quickly resolve a 16-year dispute over aircraft subsidies that has triggered tariffs on both sides.

EU Ambassador Stavros Lambrinidis told a trade conference the dispute had gone on far too long, and China - which provided 100 per cent subsidies to its aircraft industry - could soon be flooding the global market, which would pose a bigger threat.

He said reaching an agreement and removing tariffs now in place on aircraft built by US planemakers Boeing and Europe's Airbus, as well as a range of other goods, would provide a boost to markets and send a strong message to workers in an industry that has been rocked by the COVID-19 pandemic.

Source: Reuters/kv

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