The United States and the United Kingdom today reached an understanding to resolve a long-standing trade irritant relating to large civil aircraft. This development strengthens our special relationship and builds on the revitalized Atlantic Charter, which affirms our ongoing commitment to sustaining and defending our enduring values against new and old challenges.
The framework provides that the U.S. and the UK will work together to overcome any disagreements in the sector and counter non-market practices. It also provides that they will not impose tariffs related to this dispute for five years. The agreement is a model for ensuring fair competition and addressing challenges posed by non-market economies.
The following general principles will guide the cooperation between the United States and the United Kingdom in this sector:
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The two sides will establish a Working Group on large civil aircraft, to be led by each side’s respective Minister responsible for trade. The Trade Ministers will consult at least yearly. The Working Group will meet on request or at least…
