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WASHINGTON, June 24 (Reuters) – The US should perform “strong monitoring” of its five-year truce with the European Union in a 17-year battle over plane subsidies, Jayme White, President Joe Biden’s nominee to function deputy U.S. Commerce Consultant, mentioned on Thursday.
White mentioned in his affirmation listening to earlier than the Senate Finance Committee that, if confirmed, he would additionally clarify that the US wouldn’t hesitate to take countervailing measures in opposition to the EU if it did not comply.
“I feel that is clear, the US just isn’t a shrinking violet when it comes to taking countervailing measures in opposition to the EU if they are not complying with the deal,” White mentioned.
The US and the EU final week agreed to droop reciprocal tariffs for 5 years of their plane subsidy dispute.
The 2 sides have been battling since 2004 in parallel instances on the World Commerce Group over subsidies for U.S. planemaker Boeing BA.N and European rival Airbus AIR.PA, which every argued uncovered the opposite to unfair competitors.
They mentioned they’d proceed to work on an overarching settlement on subsidies by means of a brand new working group on the difficulty, and to supply any future financing on market phrases.
Additionally they agreed to be clear on R&D funding, keep away from assist that might hurt the opposite aspect and cooperate to handle “non-market practices” elsewhere.
(Reporting by Andrea Shalal Enhancing by Paul Simao)
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