The aerospace industry welcomes the signing of a new free trade agreement

Montréal, October 3, 2018 — Aéro Montréal, Québec’s aerospace cluster, welcomes the signing of a new free trade agreement between Mexico, the United States and Canada.

 

This agreement is good news for companies, especially for SMEs. “We know that predictability is a major factor that greatly promotes the growth of companies. In the face of uncertainty, they adopt a cautious attitude and often delay investments needed for growth. The signing of this agreement alleviates much of this uncertainty,” says Suzanne M. Benoît, President of Aéro Montréal.

 

However, the aerospace industry, a major user of steel and aluminum, would have liked the agreement to lower the tariffs of 10% and 25% imposed last June. “Our industry is global. Aircraft components can cross borders several times before the product is completed. The Government of Canada is continuing discussions on this matter. We are hopeful that a favourable resolution will be found,” concludes Ms. Benoît.

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