US Reinstates Zero Tariffs on Korean and Swiss Aircraft Parts
Recent trade agreements between the United States, South Korea and Switzerland have reinstated zero-for-zero tariffs on imports of aircraft and aircraft parts, restoring alignment with the 1979 Agreement on Trade in Civil Aircraft. Implementation dates for the updated tariff rules have not yet been announced.
On November 13, the White House confirmed that President Donald Trump, during a state visit to South Korea, agreed to remove tariffs on select aircraft and components. The move came in recognition of Korean Air’s August order for 103 Boeing aircraft worth USD36 billion.
A day later, the administration announced a framework for a trade agreement with Switzerland and Liechtenstein. The non-binding deal would significantly reduce the US import tariff on Swiss goods—from 39% to 15%—in exchange for USD200 billion in planned Swiss corporate investments in the United States.
The restored zero-tariff arrangements are expected to bolster aerospace supply chains, lower costs for manufacturers and strengthen trade ties with both countries.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com