l“Trade wars are good and easy to win.” Thus tweeted President Donald Trump in early March. But for the jetliner industry, trade wars are a potentially toxic exogenous shock. Jetliners are uniquely vulnerable to retaliation, particularly from China. First, the recent aluminum and steel tariffs are just the start of a much more aggressive Trump administration approach to trade. The administration is shortly expected to impose additional tariffs on $30-60 billion in annual Chinese ...

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