💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

UPDATE 1-British PM May says bitterly disappointed by U.S. Bombardier ruling

Published 2017-09-27, 03:02 a/m
© Reuters.  UPDATE 1-British PM May says bitterly disappointed by U.S. Bombardier ruling
BA
-
BBDb
-

(Adds background, quotes)

LONDON, Sept 27 (Reuters) - British Prime Minister Theresa May said she was bitterly disappointed by a U.S. decision to slap heavy duties on Bombardier Inc 's BBDb.TO CSeries jets which are partly made in Northern Ireland.

May had urged U.S. President Donald Trump to help find a solution to the Boeing-Bombardier dispute which has put around 4,200 jobs at risk in the British province where the jet's wings are made.

Boeing (NYSE:BA) accuses Bombardier of dumping its new CSeries passenger jet in the U.S. market and says the aircraft is being unfairly subsidized by Canada, a charge the Canadian firm denies.

The U.S. Commerce Department on Tuesday imposed a preliminary anti-subsidy 220 percent duty on the jets.

"Bitterly disappointed by initial Bombardier ruling," May said on Twitter. "The government will continue to work with the company to protect vital jobs for Northern Ireland."

The imposition of tariffs ups the pressure on May's minority Conservative government which depends on backing from the small Northern Irish Democratic Unionist Party (DUP) for their majority control of the British parliament.

Bombardier is the single largest manufacturing employer in Northern Ireland.

The DUP's leader Arlene Foster said the ruling was not the end of the process. "There are further steps that will follow," she said in a statement. business ministry said it would continue to work closely with the Canadian government to encourage all parties to reach a credible resolution as quickly as possible. It also criticised Boeing's role in the dispute.

"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," a spokeswoman for the department said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.