NEW YORK: Boeing said Tuesday it "welcomes" a truce between the United States and European Union on a long-running trade dispute over subsidies to the US plane maker and archrival Airbus.

"The understanding reached today commits the EU to addressing launch aid, and leaves in place the necessary rules to ensure that the EU and United States live up to that commitment," the aviation giant said.

"Boeing will fully support the US government's efforts to ensure that the principles in this understanding are respected."