December, Europe, Five Billion Dollars discussed on NPR's Business Story of the Day

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European leaders are hailing the end of the world trade organization. Dispute between planemakers. airbus and boeing. The agreement is one of the concrete. Changes ushered in by the new era of transatlantic cooperation and its impact will be felt far beyond those two industrial giants from the farm to the vineyard. Npr's eleanor beardsley tells us more. There's a lot of talk. In europe. About america. Being back. After four years of contentious relations with former president donald trump. It's not just a feeling. President biden's visit produced results speaking after the us. Eu summit tuesday a beaming. European commission had ursula fonder. Line extolled the excellent meeting between allies and friends and this meeting started with a breakthrough on aircraft. The agreement we found now really opens a new chapter in our relationship because we move from litigation to cooperation on aircraft and that after almost twenty years disputes. Since two thousand. Four airbus and boeing have accused each other of receiving unfair government. Subsidies or tax breaks. Both sides have woken up to see the real threat. Says carl more. A professor of management at canada's mcgill university focusing on each other excessively boeing airbus have lost sight of the chinese competitor. That's us government owned aircraft manufacturer. Call mak which is building. A new plane called nine one nine. Which will compete with airbus. A three twenty and boeing seven. Three seven max. And that's something we're both the. Us and europe recognize. They need these companies to focus on winning the marketplace the long running transatlantic aviation industry dispute became personal for europeans after trump slapped seven point. Five billion dollars of tariffs on popular national exports like wine whiskey and cheese wine maker. Michael bomb owner of the three hundred year old chateau diploma are in burgundy says those twenty five percent tariffs were withering. It said a lot of people hard because we sell about sixty percent of our wine to clients in the united states that tariffs and the pandemic It's been a really really challenging. Last couple of years for winemakers in burgundy france overall scores of small american businesses which import french wines suffered too good news for our winemakers tweeted. French president emmanuel macron. Adding this is what efficient. Cooperation looks like bomb. Couldn't agree more. We are excited to have world leaders. That are really leaders and are bringing people together resolving disagreements. They're still one major disagreement from the trump era which remains to be solved. us tariffs on e. u. steel and aluminum that move particularly galled european allies because the us said it was a question of national security. Europe responded with tariffs on bourbon and blue jeans among other items but the eu is hoping for a settlement by december. When it's also hope. Americans will be celebrating the holidays with french champagne. Eleanor beardsley. npr news. Paris um this message comes from npr sponsor octa a leading independent identity solution. Get best in class authorization for your customers and workforce so they can safely access what they need most from anywhere. Learn more at o. K. t. a. dot com..

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