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EU Ambassador Stavros Lambrinidis told a trade conference the dispute had gone on far too long, and China – which provided 100% subsidies to its aircraft industry – could soon be flooding the global market, which would pose a bigger threat.
He said reaching an agreement and removing tariffs now in place on aircraft built by U.S. planemakers Boeing (NYSE:BA) Co and Europe’s Airbus, as well as a range of other goods, would provide a boost to markets and send a strong message to workers in an industry that has been rocked by the COVID-19 pandemic.
