A Call for a New Era: AerCap's Push for a Trump Trade Accord
AerCap CEO Aengus Kelly urges U.S. President Trump to renegotiate and expand a 1979 aerospace trade pact to include nations like China, aiming to boost American manufacturing jobs. The proposed 'Trump trade accord' would remove tariffs, countering foreign retaliation amid increased global competition in the aerospace industry.
Aengus Kelly, CEO of AerCap, has called on U.S. President Donald Trump to renegotiate and expand a decades-old duty-free trade agreement to include emerging players like China. This comes as the aerospace industry faces renewed pressure from tariffs and seeks a revamped deal beneficial to U.S. high-tech jobs.
The proposed expansion aims to incorporate more countries, thereby improving upon a 1979 treaty that currently covers only 33 nations. Kelly's call highlights a shift in the aerospace sector's lobbying strategy, seeking a more inclusive agreement that could secure the future of American aerospace manufacturing amid global competition.
The existing trade agreement, dating back to 1980, eliminates tariffs for member countries but lacks participation from rapidly growing markets such as China and India. As global trade tensions rise, industry leaders, including Kelly, warn that the U.S. risks losing its aerospace manufacturing edge and call for strategic policy revisions.
(With inputs from agencies.)
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