The end of the interminable EU and US struggle over aircraft subsidies, thrashed out over meals of sea bass and lamb stew in Brussels, marks a major truce in what seemed an intractable trade conflict.
For policymakers in Brussels, the hope is the Airbus-Boeing deal decisively turns the page on Trump-era trade tensions. For business on both sides of the Atlantic, it lifts the spectre of punitive tariffs on goods that stretch beyond aviation to Georgia cane molasses and Italian cheese.
But the deal, sealed at Tuesday’s EU-US summit, also marks the start of a long process that requires close co-operation if both sides are to turn their fire away from each other and focus on mutual trade challenges posed by China.
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