US Trade Panel Overturns Bombardier Tariffs

Bombardier ruling due Friday amid spate of US protectionism

The duties were imposed by the Department of Commerce late previous year after Boeing launched a claim alleging the CSeries were being dumped on the US market at below-market prices in a deal with Delta Air Lines for 75 aircraft.

Friday's vote deals a blow to Chicago-based Boeing Co.

"We look forward to delivering the C Series to the U.S. market so that U.S. airlines and the U.S. flying public can enjoy the many benefits of this remarkable aircraft", the company said.

"I'm shocked", said Chris Murray, an AltaCorp Capital analyst in Toronto. The company can now proceed with the delivery of 75 CSeries jets to Delta Air Lines, originally scheduled to begin in the spring.

"The single largest market for the CSeries - as also for the (larger mainline) single-aisle - is the USA and it can not be wrong to have a strong position in the U.S".

Bombardier surged 16 percent to C$3.56 at 2:50 p.m.in Toronto after climbing as much as 23 percent for the biggest intraday gain in three months.

Shares of Bombardier spiked 17% after news of the ITC's decision broke during the afternoon trading session on Friday.

Boeing closed little changed, while Delta gained 0.7 percent.

Bombardier said the ITC decision was "a victory for innovation, competition, and the rule of law".

"There can be no backsliding from the U.S. government on this decision", he said.

Boeing could appeal or launch a new petition if the C Series are delivered to the US from the Quebec assembly plant, but observers say that would be a mistake.

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The chief executives of Bombardier and Airbus were meeting Friday in Montreal to discuss the integration of the two plane makers.

Boeing said it would review the trade panel's finding and vowed to protect US industry from "illegal business practices" at Bombardier.

Boeing said Bombardier's cheap planes ended up cutting into the US market for similar Boeing planes.

"Boeing's claims of threatened injury - premised on a false depiction of Boeing as David to Bombardier's Goliath - are convoluted, misleading, and/or speculative", Bombardier said in its final comments.

"In these hard times for worldwide trade negotiations, this decision acts as a balm for global relations, as well as for the entire Canadian and Quebecois aerospace industry", Yves-Thomas Dorval, the president and CEO of the employer's group said in a statement. "There haven't been a lot of successful challenges". That stirred fears that more restrictive trade measures will follow.

According to BBC News, most analysts had "thought the odds were stacked against Bombardier" after the Commerce Department ruled in Boeing's favor.

In a statement, Mr. Ross said the ITC ruling "shows how robust our system of checks and balances is".

"I welcome this decision, which is good news for British industry", May said on Twitter.

The company has said that its C-Series model is "critical" to its Belfast operation.

Boeing has argued that the Embraer plane is a regional jet that doesn't compete with the C Series or Boeing's 737.

The decision is going to help Bombardier sell its CSeries in the USA through removing uncertainty during a time when its rival from Brazil Embraer is bringing a new jet into the market, said a source who is familiar with the thinking of the plane and train maker in Canada.

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