The skies have long been unfriendly between the U.S. and the European Union...
with claims and counter claims of unfair subsidies given to Airbus and Boeing, the world's two biggest airplane makers, setting off a dispute that's lasted 16 years.
But the U.S. is offering to clear the air. The U.S. proposed this week to settle the long-running dispute and remove tariffs on EU imports of wine, whisky and other products.....if Airbus agrees to give back billions of dollars in aid to EU governments, several sources close to the matter told Reuters exclusively.
Representatives from the office of U.S. Trade Representative Robert Lighthizer, European Commission and the EU executive did not immediately respond to requests for comment.
Under the U.S. offer, interest rates on past loans to support Airbus development programs would be reset, according to sources who spoke on the condition of anonymity.
Based on that proposal, Airbus would have to pay back up to $10 billion.
The offer is not likely to fly with the E.U. One European source called the U.S. proposal "insulting."
The EU will seek final approval later this month to slap tariffs on $4 billion worth of U.S. imports in retaliation for subsidies granted to Boeing, after a World Trade Organization ruling handed down on Tuesday.
U.S. tariffs on about $7.5 billion worth of EU goods over Airbus subsidies have already started to hit European goods.
Both sides claim to have made changes to now be in line with WTO rules, suggesting the finger-pointing continues in what represents the world's largest-ever corporate trade dispute.