Transportation Secretary Sean Duffy said at the Paris Airshow that he wants to return to a 1979 zero-tariff trade agreement for the aviation industry but acknowledged it’s part of larger tariff negotiations.
“You look at what free trade has done for aviation,” Duffy said, per Reuters. “It’s been remarkable for them. It’s a great space of net exporters. And so the White House understands that, but if you go over there and you see the moving parts of what they’re dealing with, it is pretty intense, and it’s a lot.”
The US is a net exporter in aerospace, with a trade surplus of nearly $75 billion for the sector. Since the 1979 Agreement on Trade in Civil Aircraft went into effect, US commercial aerospace exports increased by more than 2,100%, according to a white paper.
Duffy highlighted some of those benefits, stating: “I think we should take aviation off the negotiating table by going back to ’79, and that only helps us. And to take some tools away from our trading partners would be beneficial to us.”
A delegation of lawmakers is in attendance at the Paris Airshow to shore up economic partnerships. Industry lobbyists have been seeking to return to the 1979 agreement since the Trump administration imposed 10% tariffs on imported planes, jet engines, and parts.
Meanwhile, macroeconomic uncertainty stemming from tariffs and other factors has begun to weigh on travel demand. On Monday, JetBlue (JBLU) revealed it was cutting flights, citing consumers pulling back on spending.
Read more here.
发表回复