The US and the EU have agreed a truce in a 17-year trade dispute over subsidies for Boeing and Airbus.
Under the agreement, both sides will remove taxes on $11.5bn (£8.2bn) of goods, including wine, cheese and tractors, for five years.
Those tariffs, imposed by both sides as punishment in the escalating dispute, had already been suspended in March while they tried to resolve matters.
In March the US suspended tariffs on UK imports arising from the dispute.
US President Joe Biden had a summit with EU leaders following the G7 meeting, where he is trying to bolster support for his more assertive stance towards Russia and China, and move away from Trump-era trade rows.
Derby-based Rolls-Royce says it will create 300 jobs by 2030 with an £80m investment aimed at developing energy storage systems (ESS) that will mean aeroplanes will be able to fly over 100 miles on a single charge.
Aerospace-certified ESS solutions from Rolls-Royce will power electric and hybrid-electric propulsion systems for eVTOLs (electric vertical takeoff and landing) in the Urban Air Mobility (UAM) market and fixed-wing aircraft, with up to 19 seats, in the commuter market. By 2035, Rolls-Royce is planning to integrate more than 5 million battery cells per annum into modular systems.
UK aviation industry reaffirms commitment to net zero by 2050 with interim decarbonisation targets.
Five areas have been identified that need further support in order to make sure that the UK aviation industry continues to lead the world in aviation decarbonisation.
On 22 June 2021, the UK’s leading airlines, airports, aerospace manufacturers and air service navigation providers (ANSPs) reaffirmed their joint commitment to a net zero future for UK aviation, setting out a first set of interim decarbonisation targets that will act as milestones on the path to net zero aviation by 2050.
The industry is targeting at least an overall 15 per cent reduction in net emissions relative to 2019 by 2030, and a 40 per cent net reduction by 2040, with the pace of decarbonisation ramping up as game-changing sustainable aviation fuels (SAF), permanent carbon removal and new low and zero carbon technologies – such as electric- and hydrogen-powered aircraft – become mainstream in the 2030s.
These milestones are reflected on a new chart that takes account of the effects of COVID-19 on aviation demand, and compliment an ever-growing set of voluntary industry pledges to drive down emissions fast. Importantly, the announcement also kickstarts detailed work to update by the middle of 2022 the sector’s Decarbonisation Road Map, which was first published in 2020, that is expected to demonstrate even faster potential to decarbonise aviation through technological innovation.