Boeing : Liz Truss to meet US counterpart to discuss UK-US trade deal
June 16, 2021 at 07:10 am EDT
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International trade secretary Liz Truss will meet with her US counterpart today to hold discussions over the UK-US trade deal and on ending the long-running Airbus-Boeing trade dispute.
Truss will meet with US trade representative Katherine Tai in London for their first face-to-face meeting, with the pair also set to discuss “our overall approach to trade, looking especially at tools and rules to tackle market-distorting practices by nations like China”.
It comes after widespread reports this week that the US and UK are set come to an agreement to scrap retaliatory tariffs over the Airbus-Boeing dispute.
The EU and US agreed to end their dispute over subsidies to the aviation giants yesterday, with both sides suspending tariffs worth billions of Euros.
In a statement released today, Truss said: “I also want to make progress on ending the Airbus/Boeing dispute and finding a permanent solution that works for industries in both nations.
“By focusing on these shared ambitions and drawing a line under senseless trade disputes we can take our trade relationship to new heights and build back better from Covid-19.”
Negotiations over a UK-US trade deal have been momentarily put on ice as Tai evaluates previous negotiations that were done by the Donald Trump White House.
It is understood that more than half of the deal is complete, however there are several major barriers to any agreemeent.
This includes US agricultural goods and whether they would be given full access to the British market.
The US have what are considered to be lower food standards than the EU and UK as they allow chicken to be chlorine washed and beef to be treated with hormones.
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The Boeing Company is the worldwide leader in aeronautical construction. Net sales (including intragroup) break down by market as follows:
- commercial aviation (43.5%). In addition to commercial aircraft, the group supplies spare parts and offers technical support, maintenance and engineering services;
- defense, space and security (32%): military aircraft and mobility systems (warplanes, helicopters, and air defense missiles), support services (logistics, engineering, maintenance and training services) and space equipment (satellites, launch pads, etc.).
The remaining sales (24.5%) are from services (logistics and supply management, engineering, maintenance, modification and training services, etc.), and commercial and private aircraft financing as well as aircraft equipment leasing activities.
Net sales are distributed geographically as follows: the United States (58.4%), Europe (13.5%), Asia (12.9%), Middle East (8.5%), Oceania (2.1%), Canada (1.6%), Africa (1.1%) and other (1.9%).