After a 17 year war over jet subsidies, US and EU eye a truce

A deal to end or pause world’s largest corporate trade war will help dozens of industries caught in tit-for-tat tariffs.

The United States and Europe are speeding efforts to reach a pact to end a 17-year-old dispute over aircraft subsidies but may settle for a prolonged truce in recent tariff wars, people familiar with the matter said. A deal to either end or pause the world’s largest corporate trade dispute would grant relief to dozens of other industries affected by tit-for-tat tariffs that were suspended in March. They face a renewed trade war within weeks if there is no progress. US Trade Representative Katherine Tai discussed the dispute in her first face-to-face meeting with EU counterpart Valdis Dombrovskis on Monday before Tuesday’s US-EU summit. She travels to the United Kingdom on Wednesday.