More US Tariffs On Jets For Bombardier In Boeing Trade Row
Oct 08, 2017, 00:46
The U.S. Commerce Department on Friday moved to impose trade duties of almost 300 per cent on sales of Bombardier Inc (BBDb.TO) CSeries jets in the United States, prompted by Boeing Co's (BA.N) complaint that the Canadian company received illegal subsidies and dumped the planes at "absurdly low" prices.
"This determination confirms that, as Boeing alleged in its petition, Bombardier dumped its aircraft into the USA market at absurdly low prices", it said in a news release.
"These anti-dumping duties on Bombardier's CSeries aircraft unfairly target Canada's highly innovative aerospace sector and its more than 200,000 workers - and put at risk the nearly 23,000 U.S.jobs that depend on Bombardier and its suppliers", Freeland also said.
Boeing has accused Bombardier of receiving taxpayer subsidies that allowed it to sell the CSeries in the United States at prices below cost.
A spokesperson for Bombardier said: "We strongly disagree with the commerce department's preliminary decision".
"We expect the final ruling on this early next year", said Cognard, adding that its customers were not concerned about the spat and more focused on the economics of the jet, which boasts impressive fuel efficiency.
Countervailing duties target what the US considers unfair subsidies, while anti-dumping tariffs go after the alleged selling of imported products below market value. Last week, the department recommended a 220 percent countervailing duty.
Countervailing duties target what the US considers unfair subsidies, while anti-dumping tariffs go after the alleged selling of imported products below market value.
Boeing added that the duties are the result of Bombardier deliberately trying to violate trade law.
Bombardier asserts that Boeing has not suffered any prejudice because it has no aircraft to offer in the range of 100 to 150 seats occupied by the CSeries.
A Bombardier union said it wasn't surprised by the new duty given the 48 per cent increase in the number of dumping allegations since the Trump administration took office.
The U.S. International Trade Commission could reverse the duties if it determines Boeing wasn't injured by Bombardier's actions.
Boeing says it is the world's largest manufacturer of military aircraft.
"This determination confirms that, as Boeing alleged in its petition, Bombardier dumped its aircraft into the U.S. market at absurdly low prices", the USA planemaker said in an emailed statement.
Rival ATR, the market leader in turboprops, has also secured a provisional order for 50 ATR 72-600 aircraft, worth over $1.3 billion at list price, from Indigo, India's biggest airline by market share.
Siphengphet added that the CSeries would generate $30 billion for USA suppliers and support 22,700 USA jobs.
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