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00:00:01
>> Boeing's big win in a trade dispute is threatening to set off a trade war with two of America's closest allies. The US Commerce Department agreeing this week with Boeing that Canadian rival, Bombardier, received unfair subsidies, deciding to slap Bombardier with such huge tariffs that it would triple the cost of buying each airplane.
00:00:22
It's a major blow to the future of Bombadier's newly launched and well-received C-Series, says Reuters' aerospace correspondent, Al Scott.>> If it's upheld, it's essentially says that US airlines can't fly this great Canadian airplane that is slightly smaller than a 737. But has a long-range, transcontinental range. If US airlines can't fly that, that's kind of the first time in aviation.
00:00:47
At least in my understanding of aviation history that we've ever seen a particular aircraft shut out of a market, like the United States.>> And that's not going over well in Canada. The Premier of Bombardier's hometown Province of Quebec calling this and quote, attack on all of Canada, deserving nothing less than all-out ban on US imports as a response.
00:01:10
>> Not a bolt. Not a part. Not a plane.>> And it's not just America's northern neighbor decrying what it sees as economic nationalism. Britain warning Boeing's future military contracts are in jeopardy because of the 4,200 jobs at the Bombardier plant in Northern Ireland now at risk. The ruling, coming at a particularly tense time for America's trading partners, already on edge over the Trump adminstration's anti-trade America first ideals.
00:01:38
>> We've seen a lot of rhetoric about trade unfairness out of the Trump adminstration. I think these decisions stands as one of the first really concrete large-scale trade decisions that really show where this policy could be heading.>> In order for the ruling to take effect, it, first, must be approved by the US International Trade Commission.
00:02:05
That decision not expected until next year.