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Foreign Ministry Note – European Union-United States Understanding

The announcement of the understanding reached by the European Union and the United States on the Airbus-Boeing dispute is excellent news for our companies, especially in the agri-food sector, which will no longer have to bear the pressure of over 500 million tariffs,” as commented by the Minister of Foreign Affairs and International Cooperation, Luigi Di Maio, welcoming the suspension, for a period of five years, of the respective countermeasures between the EU and the US on the issue of subsidies to the Large Civil Aircraft industry.

This is a tangible sign that the alliance between Europe and the United States is entering a fruitful new chapter since the Biden administration took office, one of effective cooperation and shared views and values, which “will come as a great relief to exporters on both sides of the Atlantic,” Di Maio added.

The Foreign Minister emphasised that, for Italy, this is a further step towards recovery after a particularly tough year and having been involved in the trade dispute despite not being part of the Airbus-Boeing consortium. “Over the last year, we have worked hard at the Foreign Ministry to ensure an exceptional volume of resources for promoting Italian business abroad, thanks to innovative and integrated tools such as the Pact for Export. This trade truce between the EU and the United States, towards which we have been striving with conviction, adds on to the extraordinary result achieved by Italian exports which, in the first three months of 2021, reached 118 billion euros”.

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