US aviation industry seeks exemption from Trump’s trade tariffs

World World: The US aviation industry, which is struggling with President Donald Trump’s trade war and a drop in travel demand, is demanding a waiver of tariffs from the White House. Aviation officials have met senior members of the administration and urged the reinstatement of the duty-free arrangement under the 1979 Civil Aircraft Agreement, under which the aviation sector got an annual trade surplus of $ 75 billion. Trump’s tariffs have ended this old arrangement.

American Airlines CFO, Devon May said, “Our government affairs team is working on this to explain the case why the waiver should be given.” The industry believes that the waiver of tariffs will help companies reduce travel expenses, especially when consumer demand is falling.

Airlines have reduced flights after a decline in bookings. Also, efforts are being opposed by aircraft manufacturers and engine manufacturers to pass on the burden of tariffs to consumers.