Washington, DC

NBAA applauds US-EU deal restoring zero tariffs on aircraft and parts

The National Business Aviation Association has commended the Trump Administration on the release of a Framework on an Agreement on Reciprocal, Fair and Balanced Trade announced with the European Union (EU), which includes a return to zero-for-zero tariffs on aircraft and parts starting September 1st.

The framework agreement comes on the heels of last month’s announcement of a return to zero-for-zero tariffs on aerospace products.

Since the implementation of the 1979 Agreement on Trade in Civil Aircraft, over 30 countries have benefited from a zero-for-zero fair and reciprocal trade agreement in civil aviation.

NBAA President and CEO Ed Bolen noted that the 1979 Agreement on Trade in Civil Aircraft has had an undeniably positive impact on US leadership in global aerospace safety and innovation. The agreement led to a $104bn US trade surplus in the aerospace industry, leading all other sectors in bolstering the nation’s trade balance, while creating 1.8 million US jobs.

“The agreement marks a vital step toward reestablishing a fair and balanced trade environment,” said Bolen. “It supports continued innovation in aerospace, strengthens the United States’ global leadership in aviation safety, and helps sustain the significant trade surplus that the US aerospace industry has achieved over many decades.”

NBAA urges the administration to return to the zero-for-zero tariff policy with all other signatories to the 1979 Agreement on Trade in Civil Aircraft.