© Reuters. U.S. President Joe Biden attends the EU-US summit in Brussels, Belgium June 15, 2021. REUTERS/Kevin Lamarque
WASHINGTON (Reuters) – President Joe Biden on Tuesday welcomed the “major breakthrough” in a Boeing-Airbus trade dispute and an agreement with the European Union to counter China’s “non-market practices.” The U.S. president arrived in Geneva on Tuesday after the deal with the European Union was announced following talks in Brussels. “Both the U.S. and EU agreed to suspend our tariffs for five years, and we committed to ensuring a level playing field for our companies and our workers,” Biden said in a statement. “Significantly, we also agreed to work together to challenge and counter China’s non-market practices in this sector that give China’s companies an unfair advantage.” Biden said the United States and European Union would work together in specific ways, including on inward and outbound investment and technology transfer.
“It’s a model we can build on for other challenges posed by China’s economic model,” he said. He said “values like fair competition and transparency” that were shared by the United States and EU made democracies everywhere stronger.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.