U.S. court strikes down 300 percent tariff on Canadian jets

Bombardier ruling due Friday amid spate of US protectionism

Bombardier countered that because Delta at that time was explicitly looking for smaller airplanes, Boeing hadn't even proposed its own jets in that sales campaign.

But on Friday, four commissioners of the U.S. International Trade Commission unanimously voted that Boeing had not been harmed.

The ITC was asked to approve a USA commerce department recommendation to hit the Canadian company's CSeries jet with a near-300 per cent duty on sales to American carriers.

The U.S. International Trade Commission (ITC), a quasi-judicial federal agency that directs action by the United States against unfair trade practices, ruled Friday that U.S. giant Boeing Co. and the wider American aerospace industry were not injured or could not be injured, by Bombardier C Series imports into the United States.

Boeing, which brought the trade complaint in April, said government subsidies helped Bombardier compete with "absurdly low" prices.

The U.S. company has a huge backlog of orders, record profits and its shares more than doubled over the past year.

Bombardier can begin shipping C Series jets to Delta Air Lines immediately following a trade tribunal ruling.

The U.S. -based aerospace company said it will review the commission's detailed opinions when they are released. It has likewise added to strains between the US furthermore, Canada, as the Trump organization tries to renegotiate terms in the North American Free Trade Agreement, or NAFTA.

The decision bucked expectations, with a Canadian government source telling Reuters Thursday it expected Bombardier to lose the case, saying "It is not a multilateral or independent or unbiased tribunal".

UK Prime Minister Theresa May said it was "good news" for UK industry.

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Earlier this week, the Trump administration approved tariffs on behalf of Whirlpool (NYSE:WHR) against washing machine rivals, including Samsung and LG, and on behalf of US solar panel companies against imported cells.

Also, the ITC vote is nullifying the 299.45 percent tariff set by the Department of Commerce on USA -bound Bombardier C Series jets.

The ITC ruled Boeing had not made the case it suffered damages from the Canadian rival, whose planes have yet to enter the USA market.

The case report will be made available March 2 on the ITC website. That stirred fears of more restrictive trade measures.

In key testimony before the ITC previous year, Greg May, senior vice president of fleet and supply-chain management at Delta, said, "It would be wrong to suggest that Boeing lost sales to Delta because we purchased the CS100".

In a statement, Bombardier said the decision is "a victory for innovation, competition, and the rule of law".

Bombardier shares spiked 19 per cent on the news to $3.67.

Boeing closed little changed, while Delta gained 0.7 percent.

Boeing argued it suffered "material injury" from the CSeries, for which Bombardier has received generous government support.

Boeing has claimed Bombardier sold each 108-133-seat CS100 for just $19.6 million, arguing they actually cost $33.2 million to make.

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