WTO Committee Moves to Link Civil Aircraft Trade with 2007 WCO Schedule
The World Trade Organization’s aircraft committee agreed on Nov. 5 to amend its Civil Aircraft Agreement product list to make it compatible with the World Customs Organization’s 2007 Harmonized System tariff schedule, the WTO said on Nov. 5 (here). The…
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agreement cuts duties on a wide range of civilian aircraft-related products, such as engines and flight simulators. The U.S. is one of 32 signatories to the pact. The committee “has been working since 2008 to modify the product list of the Agreement to make it compatible with the 2007 version of the Harmonized System,” which comprises six-digit tariffs codes to provide a “common basis” to trade qualifying goods, said the WTO.