EUROPEAN UNION leaders and US President Joe Biden will end outstanding trade battles, promising to remove tariffs related to a steel and aluminum conflict before the end of the year, reports Bloomberg.
Part of the discussion includes a two-decade-old aircraft dispute next month that came to a head under the Trump administration and contributed to over US$18 billion in US and EU exports.
The two parties will pledge to find a solution to the aircraft issue and have agreed to suspend aircraft tariffs until July to make a settlement.
'We should finally put ongoing disputes, of which unfortunately there are some, behind us,' said German Foreign Minister Heiko Maas.
'We are now making progress in some areas: the moratorium on punitive tariffs from the Airbus-Boeing dispute and the EU decision against responding in kind to the measures in the dispute over steel and aluminum tariffs,' said Mr Maas.
The US and the EU will also announce a partnership aimed at reinforcing the supply of semiconductors in both regions.
Said the draft: 'We commit to building an EU-US partnership on the rebalancing of global supply chains in semiconductors with a view to enhancing EU and US respective security of supply.'
SeaNews Turkey
Part of the discussion includes a two-decade-old aircraft dispute next month that came to a head under the Trump administration and contributed to over US$18 billion in US and EU exports.
The two parties will pledge to find a solution to the aircraft issue and have agreed to suspend aircraft tariffs until July to make a settlement.
'We should finally put ongoing disputes, of which unfortunately there are some, behind us,' said German Foreign Minister Heiko Maas.
'We are now making progress in some areas: the moratorium on punitive tariffs from the Airbus-Boeing dispute and the EU decision against responding in kind to the measures in the dispute over steel and aluminum tariffs,' said Mr Maas.
The US and the EU will also announce a partnership aimed at reinforcing the supply of semiconductors in both regions.
Said the draft: 'We commit to building an EU-US partnership on the rebalancing of global supply chains in semiconductors with a view to enhancing EU and US respective security of supply.'
SeaNews Turkey