BRUSSELS (AP) — In a sign of goodwill to rebuild trans-Atlantic relations, the European Union and the United States have decided to suspend tariffs used in the longstanding Airbus-Boeing dispute.

EU Commission President Ursula von der Leyen said after remote talks with U.S. President Joe Biden Friday that both sides “committed to focus on resolving our aircraft disputes, based on the work of our respective trade representatives."

The suspension will last for an initial period of four months.

Von der Leyen called it “a very positive signal for our economic cooperation in the years to come.”

"This is excellent news for businesses and industries on both sides of the Atlantic,” she said.