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GE Aerospace CEO Larry Culp: We've been advocating for a return to a tariff-free construct

CNBC Television • 2:15 minutes • Published 2025-07-17 • YouTube

📝 Transcript (62 entries):

Well, Phil, when we spoke in April, a lot of this was fresh, right? But here we are in mid July coming off a quarter where orders were up 27% both in services and in new make engine. So, demand continues to be robust. I think we've got better clarity as to where we're going at least with respect to aerospace. We've been advocating, as you know, for a return to the tariff-free construct in aerospace that dates back to 1979. We saw that captured in the US UK agreement. We're hopeful that that will be replicated in the other trade deals that are on the table in the days and and weeks to come. Well, you were with the president in Qatar uh when he announced a massive order not just for Boeing wide bodies but obviously what more than 400 GE engines that will power those aircraft including the trip 7X which has yet to be certified but are you confident that goes into service next year as Boeing is planned? Well, that was a big day for us in Doha to have the president there. Kelly to his right, I was to his left announcing the largest widebody order in the history of the industry. us both both our companies. We're thrilled to be under wing. We know customers love that product. The win rate against competition, I think, uh is in the 60% range. So, we're working. It'll be the most tested engine and aircraft uh in in recent memory. And uh we'll leave it to Kelly and the and the Boeing team to talk about the uh the introduction schedule, but we're working hard toward that 26th date. But when you talk with the president and you say, "Look, the the tariff we, you know, the agreement that we worked with the UK, we should have that worldwide." Are you confident that sticks? Phil, I'm optimistic. I I I really am. When we're talking with the president and others in the administration, I think there's a real recognition that the US enjoys that $75 billion annual trade surplus for a host of reasons, not the least of which has been this tariff-free regime. The president himself understands the industry very well, right? He had his own airline. He flies his own 757. He understands this industry, I think, in in great depth. And we're uh again optimistic that as the other trade deals are reached that what we saw in the UK agreement will be uh in