Good news for importers and exporters of goods caught up in the Large Civil Aircraft (LCA) dispute between the U.S, E.U. and U.K.

The U.S. Trade Representative announced the joint agreement with the E.U. on June 15th and with the U.K. on June 16th to suspend countermeasure tariffs related to the LCA dispute for 5 years.

This follows a four-month suspension. Tariffs were scheduled to be assessed at 15% on aircraft products, and 25% on non-aircraft products on imports from the E.U. & U.K.

For more information about the agreements, refer to the USTR press releases:

• USTR Announces Joint U.S. - E.U. Cooperative Framework for Large Civil Aircraft
• Joint US - UK Statement on a Cooperative Framework for Large Civil Aircraft