Yahoo Finance

The Trump administration’s new tariffs upend a trade deal that has allowed Boeing, Airbus and other aerospace manufacturers to build aircraft and jet engines largely without tariffs since the 1980s, an aerospace industry group said. The latest duties are set to bring an end to tariff exemptions that these companies and their suppliers have enjoyed under a World Trade Organization deal that includes the U.S., China, Canada, most European Union nations and a host of other countries. The 1980 trade pact opened the door for broad U.S. commercial jet exports into Europe.