Aengus Kelly CEO of the world’s largest lessor Aercap that the current trade situation presents an opportunity to improve the 1979 aviation treaty and extend it to more participating nations.
The world’s largest aircraft leasing company is advocating for the expansion of a trade agreement, targeting newcomers such as China. he says a successful negotiation could greatly benefit US manufacturing and engineering jobs.
The Agreement on Trade in Civil Aircraft has been pivotal since 1980, having eliminated tariffs on aircraft and parts among existing members. Crafting a new agreement could be complicated, as existing trade disputes may impede negotiations.
Aengus Kelly shared: “It would be a fantastic win for the president if he could enhance and significantly improve the 1979 aerospace treaty, which has only got (33) countries signed up to anything, while countries like India and China are not in it. If the president could convince other countries to join this zero-for-zero tariff agreement, that’ll be an enormous win for high-tech manufacturing and engineering jobs in the United States. With very high tariffs, if they’re retaliatory, then of course we’re going to see the rest of the world move over time towards Airbus.”
