Forbes: With Tariffs On Jets, Trade War Looms With Canada ― And Perhaps The U.K. Too
The prospect of a trade war with Canada and possibly Britain loomed large Wednesday after the U.S. Commerce Department slapped huge tariffs on imports of Canadian jet aircraft that compete with Boeing.
“The U.S. values its relationships with Canada, but even our closest allies must play by the rules,” said Commerce Secretary Wilbur Ross. “The subsidization of goods by foreign governments is something that the Trump Administration takes very seriously, and we will continue to evaluate and verify the accuracy of this preliminary determination.”
The decision was one of the first major punitive trade actions by the Trump Administration, which has vowed to defend U.S. workers against imports. It is currently trying to get new concessions from Canada and Mexico in negotiations for a rfevised North American Free Trade Agreement.
Read more ....
WNU Editor: This fight has been brewing since the beginning of the year when the Canadian government warned Boeing not to proceed with legal actions against Bombardier or else Canada would drop its promised Super Hornet fighter purchase. At the time I mentioned that Boeing makes most of their money selling commercial planes, not military, and if given a choice, Boeing would prefer restricting Bombardier in commercial sales even if it would mean the lost of a few fighter jet sales. I also mentioned that I know the Bombardier story very well .... and yes .... the Canadian government has given some help to Bombardier, but the real big backer has been the provincial government of Quebec .... and (as I had predicted) this is why U.S. tariffs were slapped today. As for a trade war .... it is not going to happen.
More News On Talk Of A Possible Trade War Between The U.S. Vs. The U.S. And Canada
US slaps high duties on Bombardier jets after Boeing complains they were unfairly subsidized by Canada -- CNBC
Boeing scored a big victory against its Canadian rival, but it may start a nasty trade war -- Business Insider
UK leaders threaten Boeing over new US tariffs on Canadian jets -- The Hill
Defence Secretary Michael Fallon hints Government may ban new contracts with Boeing over Trump administration's Bombardier decision -- The Independent
A UK trade war with Trump over Bombardier would be suicidal -- The Telegraph
1 comment:
Whenever I board a puddle jumper, it is either Canadian or Brasilian.
Those 2 countries seem to own the market for the feeder airlines.
Post a Comment