US-UK suspend large aircraft tariffs as giant lessor merger nears

© Sergio Delle Vedove |

The US and UK are to suspend tariffs on large aircraft for four months. The UK stopped applying retaliatory tariffs on Boeing in January and plans to wait for a negotiated settlement between Boeing and Airbus. The US has agreed and has suspended tariffs. The office of the US trade representative said the suspensions “will allowed time to focus on negotiating a balanced settlement to the disputes and begin seriously addressing the challenges posed by new entrants to the civil aviation market from non-market economies, such as China”.

Meanwhile, GE and AerCap have confirmed merger talks for their leasing businesses. The combined lessor would be valued at about $30bn and involve some 2,700 aircraft, according to aerotime.