UK-US Trade Deal Eliminates Tariffs, Boosting Aerospace Industry
The Farnborough Aerospace Consortium (FAC) has hailed the UK-US trade deal, which eliminates tariffs on aerospace products. Prime Minister Sir Keir Starmer and President Donald Trump unveiled the 'historic' agreement at the G7 summit in Canada.
The deal is a boon for the UK's aerospace sector, which exported $2.81 billion worth of goods to the US last year. Alan Fisher, CEO of FAC, has welcomed the news, expressing relief that tariffs won't hinder industry growth and supply chains.
FAC has been strengthening ties with the US. Last year, it signed a memorandum of understanding with the Ohio Aerospace Institute (OAI). Some UK companies have set up shop in the US, and vice versa, though specific details about partnerships or subsidiaries are scarce.
The tariff-free trade deal between the UK and US is set to boost the aerospace industry. FAC, which has been fostering US ties, expects smoother operations and growth following the agreement.
