Double whammy for Bombardier, hit by bad news on both sides of the Atlantic
Montreal/New York — The US Commerce Department on Tuesday slapped preliminary anti-subsidy duties on Bombardier’s CSeries jets, after rival Boeing accused Canada of unfairly subsidising the aircraft. The move is likely to strain trade relations between the neighbours, and has drawn a rebuke from Britain, which said it was "disappointed" with the decision. It is also the second piece of bad news for Bombardier, after Siemens and Alstom announced a rail tie-up earlier on Tuesday — taking Bombardier’s possible Siemens deal off the table. The UK Business Ministry said on Wednesday of the US duties: "Boeing’s position in this case is unjustified and frankly not what we would expect of a long-term partner to the UK — as well as damaging the wider global aerospace industry. We will continue to work closely with the Canadian government to encourage all parties to reach a credible resolution as quickly as possible." The US Commerce Department said it had imposed a steep 219.63% countervailin...
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