Captain Obvious
09-27-2017, 06:21 PM
http://www.npr.org/sections/thetwo-way/2017/09/27/554022718/u-s-slaps-hefty-tariff-on-bombardier-jets-angering-canada-u-k
The Commerce Department has announced that it is hitting Canadian aircraft-maker Bombardier with a hefty 220 percent tariff for its top-end passenger planes. The tariff follows the department's preliminary finding in favor of U.S. rival Boeing's complaint that the smaller company received unfair government subsidies.
The trade row is over the Montreal-based Bombardier's 100- to 150-seat C-Series passenger jets (http://commercialaircraft.bombardier.com/en/cseries.html).
Bombardier has seen its stock price drop (https://www.bloomberg.com/news/articles/2017-09-27/bombardier-s-6-billion-jet-takes-hit-as-boeing-wins-u-s-duties) since Tuesday's announcement by Commerce, and the move has also angered the U.K. because the aircraft-maker is one of Northern Ireland's largest employers. About 1,000 jobs at the Belfast plant that are directly linked to the production of the C-Series wing could be lost, officials say.
The Canadian company has called the ruling "absurd" and promised to fight it. Boeing has said it only wants "a level playing field" in the U.S. market for single-aisle planes. In a statement Tuesday, the Chicago-based manufacturer of the 737 described Bombardier's "massive illegal subsidies" as a "violation of existing trade law."
The Commerce Department has announced that it is hitting Canadian aircraft-maker Bombardier with a hefty 220 percent tariff for its top-end passenger planes. The tariff follows the department's preliminary finding in favor of U.S. rival Boeing's complaint that the smaller company received unfair government subsidies.
The trade row is over the Montreal-based Bombardier's 100- to 150-seat C-Series passenger jets (http://commercialaircraft.bombardier.com/en/cseries.html).
Bombardier has seen its stock price drop (https://www.bloomberg.com/news/articles/2017-09-27/bombardier-s-6-billion-jet-takes-hit-as-boeing-wins-u-s-duties) since Tuesday's announcement by Commerce, and the move has also angered the U.K. because the aircraft-maker is one of Northern Ireland's largest employers. About 1,000 jobs at the Belfast plant that are directly linked to the production of the C-Series wing could be lost, officials say.
The Canadian company has called the ruling "absurd" and promised to fight it. Boeing has said it only wants "a level playing field" in the U.S. market for single-aisle planes. In a statement Tuesday, the Chicago-based manufacturer of the 737 described Bombardier's "massive illegal subsidies" as a "violation of existing trade law."