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By Scott Hamilton
April 7, 2025, © Leeham News: Tariffs against the rest of the world announced by US President Donald Trump last week threaten retaliatory tariffs against Boeing at a far greater level than Airbus faces, an analysis by LNA shows.
Trump exempted no part of the world from tariffs where Boeing isn’t at risk for retaliatory tariffs. Airbus faces tariffs only in the US. Critics note that North Korea and Russia aren’t on the list; these two countries already are under steep economic sanctions. Nevertheless, the US had more than $3bn in Russian imports last year. Even Boeing’s domestic US deliveries potentially could be hit with tariffs on foreign-sourced parts, components and engines.
The situation is still fluid, and it is still unknown precisely how US tariffs will be applied to the aerospace industry. This will affect how retaliatory tariffs are applied to Boeing and Airbus, which sources much of its aircraft content (notably engines) from the US.
Accordingly, LNA’s analysis is necessarily highly preliminary. It’s also possible that more airplanes may be listed as at risk to tariffs than the final analysis would conclude.
Boeing potentially has three times more aircraft subject to retaliatory tariffs than Airbus has exposure in the US with its European and Canadian sales to US customers.
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