Crotchety Theresa May wakes up for a brief moment.
UK government threatens retaliation against Boeing in Bombardier tariff row - as it happened
The day has been dominated by the ructions following the US decision to slap 219% tariffs on Bombardier, the result of a dispute with rival Boeing. Here’s our latest report:
The government has warned aircraft manufacturer Boeing it could lose UK defence contracts over its part in a US decision to slap punitive tariffs of 219% on rival Bombardier, in a dispute that threatens to sour trade relations between London and Washington.
Theresa May said she was “bitterly disappointed” by the move to impose a tariff on sales of Bombardier’s C-Series passenger jet, which threatens at least 1,000 manufacturing jobs in Northern Ireland.
Michael Fallon, the UK defence secretary, stepped up the government’s rhetoric, warning that Boeing’s assault on Bombardier “could jeopardise” its chances of securing government contracts.
The business secretary, Greg Clark, joined the chorus of disapproval, branding the ruling “unjustified” and vowing to work with Canada - where Bombardier is based - to get it overturned.
The backlash follows an interim decision by the US Department of Commerce, which agreed with Boeing’s case that Bombardier received unfair, anti-competitive state support from the Quebec regional government, including a £740m bailout. Bombardier, which has also received £113m in repayable funding from the UK government, called the decision “absurd and divorced from the reality about the financing of multibillion-dollar aircraft programmes”.
https://www.theguardian.com/business...-business-live
UK government threatens retaliation against Boeing in Bombardier tariff row - as it happened
The day has been dominated by the ructions following the US decision to slap 219% tariffs on Bombardier, the result of a dispute with rival Boeing. Here’s our latest report:
The government has warned aircraft manufacturer Boeing it could lose UK defence contracts over its part in a US decision to slap punitive tariffs of 219% on rival Bombardier, in a dispute that threatens to sour trade relations between London and Washington.
Theresa May said she was “bitterly disappointed” by the move to impose a tariff on sales of Bombardier’s C-Series passenger jet, which threatens at least 1,000 manufacturing jobs in Northern Ireland.
Michael Fallon, the UK defence secretary, stepped up the government’s rhetoric, warning that Boeing’s assault on Bombardier “could jeopardise” its chances of securing government contracts.
The business secretary, Greg Clark, joined the chorus of disapproval, branding the ruling “unjustified” and vowing to work with Canada - where Bombardier is based - to get it overturned.
The backlash follows an interim decision by the US Department of Commerce, which agreed with Boeing’s case that Bombardier received unfair, anti-competitive state support from the Quebec regional government, including a £740m bailout. Bombardier, which has also received £113m in repayable funding from the UK government, called the decision “absurd and divorced from the reality about the financing of multibillion-dollar aircraft programmes”.
https://www.theguardian.com/business...-business-live
