The retiring president and CEO of the Aerospace Industries Association of America, John Douglass, said modifying the U.S export control system could double the trade surplus from the present record $55 million. “We have to get rid of a Cold War philosophy that puts many civil products in the military domain,” he told Aviation International News in an exclusive interview.
Balance of trade
U.S. aerospace exports rose $10.6 billion, or 18.7 percent, to a record $67.4 billion last year, according to the Aerospace Industries Association (AIA). That paved the way for an increase in the positive trade balance, jumping $8.8 billion to $39.8 billion, a 28-percent hike.