The UK government on Wednesday said it will suspend retaliatory European Union tariffs on Boeing airplanes resulting from the EU-U.S. dispute over subsidies to their respective commercial airframe makers, in an effort to smooth relations with the incoming Biden Administration after the Brexit transition period ends on December 31. The suspension, which the UK calls “an effort to bring the U.S. towards a reasonable settlement and show the UK is serious about reaching a negotiated outcome,” accompanies a UK commitment to adopt “an independent approach” on longstanding trade conflicts between the U.S. and EU in general, including those involving steel and aluminum tariffs.

“The twin announcements are part of the government’s strategy to de-escalate trade tensions so the U.S. and UK can move forward to the next phase of their trading relationship, and ultimately draw a line under a dispute that harms industry on both sides of the Atlantic,” said the UK Department of International Trade in a statement.

“As an independent trading nation once again, we finally have the ability to shape these tariffs to our interests and our economy, and to stand up for UK business,” added International Trade Secretary Liz Truss. “Ultimately, we want to de-escalate the conflict and come to a negotiated settlement so we can deepen our trading relationship with the U.S. and draw a line under all this.”

The UK’s concession on aerospace subsidies signals another effort to draw attention to Britain’s independence from the EU, which imposed retaliatory tariffs worth some $4 billion annually on the U.S.—including a 15-percent duty on Boeing jets—after the World Trade Organization authorized the bloc to impose countermeasures in response to illegal U.S. subsidies to Boeing.

In a parallel case related to Airbus, the WTO allowed the U.S. in October 2019 to impose countermeasures against European exports worth up to $7.5 billion. The trade body based the amount on an appellate body decision in 2018 that had found that the EU and its member states had not fully complied with previous WTO rulings relating to repayable launch investment for the A350 and A380 programs.

Although the UK move might appear to put it at odds with the EU, the European Commission also has said it stands ready to work with the U.S. to settle the dispute and to agree on long-term disciplines on aircraft subsidies.

“We have made clear all along that we want to settle this long-running issue. Regrettably, due to lack of progress with the U.S., we had no other choice but to impose these countermeasures,” said European commissioner for trade Valdis Dombrovskis in early November. “The EU is consequently exercising its legal rights under the WTO's recent decision. We call on the U.S. to agree to both sides dropping existing countermeasures with immediate effect, so we can quickly put this behind us. Removing these tariffs is a win-win for both sides, especially with the pandemic wreaking havoc on our economies. We now have an opportunity to reboot our transatlantic cooperation and work together towards our shared goals.”