Finance, Taxes, Insurance
Aerospace Leaders Call for Zero Tariffs at Global Summit
U.S. and European executives want to stick to the industry’s 1979 trade agreement
Guillaume Faury, Airbus CEO
Airbus CEO Guillaume Faury was among the senior leaders at the Global Aerospace Summit in Washington, DC. © Chris Sloan/Leeham News

America’s aerospace industry is mobilizing to defend the 45-year-old tariff-free trade agreement that executives credit with creating 2.2 million U.S. jobs and billions in trade surpluses. At the U.S. Chamber of Commerce’s Global Aerospace Summit in Washington, D.C., last week, industry leaders including Guillaume Faury, CEO of Airbus, discussed what’s at stake.

“The so-called ‘zero-for-zero,’ the 1979 agreement with no tariffs on aerospace goods, has led to the very successful benefits for all involved,” he said. Faury boasted Airbus’ role in strengthening the U.S. aerospace trade position, particularly with its final assembly lines in Mobile, Alabama, which will be the fourth largest aircraft manufacturing facility in the world: “We contribute to the positive balance of aerospace in the U.S.”