The European Union and the United States agreed to suspend tens of billions of dollars in tariffs on their respective products, easing the gap between Airbus and Boeing Co, according to people familiar with the matter.A 17-year dispute over illegal subsidies.

The tariff suspension will last for four months and could be announced as early as today, people familiar with the matter said. People familiar with the matter spoke on condition of anonymity because the information was not made public. The Office of the United States Trade Representative did not immediately respond to a request for comment.