Trade Ruling on US Duties imposed on Bombardier Delayed to Friday

The International Trade Commission (ITC) has postponed to Friday a key decision on whether duties should be slapped on American sales of Canadian plane-and-trainmaker Bombardier Inc’s (BBDb.TO) largest jet, the U.S. agency said on Wednesday.

The ITC moved the date of the ruling from Thursday to Friday because of the recent U.S. government shutdown, a spokeswoman for the agency wrote by email.

usdcad Canadian dollar graph, January 24, 2018

The ITC, which oversees U.S. trade remedy laws, will decide whether to support a U.S. Commerce Department recommendation to impose a duty of nearly 300 percent on sales of Bombardier’s 110-to-130-seat CSeries to American carriers.

The case follows a petition by Boeing Co (BA.N), the world’s largest maker of jetliners, which said its business was hurt because Bombardier received illegal government subsidies and dumped the CSeries in the United States through the 2016 sale of 75 jets at “absurdly low prices” to Delta Air Lines (DAL.N).

Bombardier, which contests Boeing’s claim, made a last-minute request on Tuesday for the ITC to consider Brazilian rival Embraer SA’s (EMBR3.SA) new E190-E2 as a competitor in the 100-to-150-seat market because of recent improvements to the new plane’s range.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza