Following on the lines of the compromise announced earlier this week with the European Union (EU), the U.S. and UK reached agreement to suspend tariffs they have imposed over the Airbus/Boeing dispute.
The agreement with the UK is said to be nearly identical to the one reached with the EU earlier this week on the topic. The U.S.-UK accord includes establishing a working group on large civil aircraft with each side agreeing to provide any financing to aircraft firms will be “on market terms” and that research and development funding will be provided “though an open and transparent process.”
The two will also jointly analyze and address “non-market practices of third parties that may harm their respective large civil aircraft industries.”
The five-year tariff suspension applies from July 4.