The National Business Aviation Association (NBAA) has applauded the publication of guidance on the recent trade agreement between the US and the EU, including a return to zero tariffs on aerospace products imported from and exported to the EU.

Earlier this year, the administration levied a 10 per cent tariff on most aircraft and parts imported into the US from the EU. These tariffs no longer apply to aircraft and aircraft parts traded between the territories, retroactive to 1 September.

The guidance comes after a trade deal announced in late July between the two countries and generally follows a similar zero-tariff policy for aircraft and parts with the United Kingdom published in June and, separately, with Japan, published in early September.

NBAA president and CEO Ed Bolen says: “Last year, US civil aviation built a $104 billion trade surplus, leading all other manufacturing trade sectors, and has been an export leader since 1979, when the Agreement on Trade in Civil Aircraft established a zero-tariff level playing field with dozens of other countries.

“NBAA commends the administration for returning to a reciprocal zero tariff agreement with the EU for aircraft and parts. This new policy and accompanying guidance will allow for further innovation in the aerospace industry, enable the trade surplus to grow and help the sector continue to make significant contributions to the US economy and job growth.”

NBAA urges the administration to return to a similar zero-for-zero tariff agreement on aircraft and aircraft parts in future bilateral trade deals.