NBAA Issues Statement on Tariff Developments
/The National Business Aviation Association (NBAA) issued the following statement regarding the Supreme Court ruling striking down the use of the International Emergency Economic Powers Act (IEEPA) for the implementation of tariffs:
“We are reviewing the Supreme Court’s ruling to understand its full implications,” said NBAA President and CEO Ed Bolen. “We are also carefully following the Administration’s response.
“Since the implementation of the Agreement on Trade in Civil Aircraft in 1980, the United States has dominated every aspect of civil aviation and enjoyed a massive trade surplus, bolstering the nation’s global leadership in aerospace safety and innovation, delivering a $100 billion trade surplus and millions of jobs.” Bolen pointed to independent data showing that the aviation industry supports 9.4 million jobs, $1.8 trillion in total economic activity, and contributes 4 percent of U.S. gross domestic product.
Bolen added that the framework established in 1980 has been key to ensuring the reliability of the industry’s complex, highly regulated global supply chain, which is supported by numerous trade agreements required to meet stringent safety standards, while ensuring the uninterrupted flow of highly specialized goods.
“The benefits of the nation’s long-standing policy on aerospace trade accrue to business aviation, a vital link in our nation’s transportation system, a powerful driver of our economy and a critical component of America’s leadership in manufacturing, innovation and competitiveness,” Bolen said, noting that business aviation supports 1.3 million jobs and $340 billion in annual economic activity.
“We look forward to working with the administration and Congress to promote policies that foster the growth of industries, including business aviation, that are key to preserving our nation’s leadership in global aerospace.”