>> Canadian airplane maker Bombardier scored a major victory in a trade dispute with US rival Boeing. On Friday, a US trade body rejected Boeing's claim that Bombardier was unfairly cutting the price of its new C-Series jet in sales to American carriers. The US International Trade Commission also discarded a US Commerce Department recommendation to slap a near 300% duty on sales of the jets.
Reuters correspondent Alana Wise covers aerospace.>> Now the complaint itself stemmed from Boeing saying that Bombardier had been so deeply subsidized by the Canadian government that it was able to essentially dump these jets in the US at prices that were just impossible for anyone else to match. Most of us, most people who have been watching this from the beginning thought that the ITC was gonna rule in favor of Boeing and impose these very steep nearly 300% duties on the Bombardier jets, which had the potential to be the nail in this already troubled jet program's coffin.
But like I said, this was not something that was widely expected. And it was something that was really praised by both Bombardier, who is the plane's maker, and Delta Airlines, who will be Bombardier's first US customer for the jet, if all goes as planned.>> The ITC did not give an explanation for its decision.
New of Friday's ruling sent shares of Bombardier soaring 15%. Shares of Boeing fell slightly. The case sparked trade tensions between the US and Canada, at a time when both countries are renegotiating the landmark North America Free Trade Agreement. In a statement, Bombardier said the ruling was a victory for innovation, competition, and the rule of law.
Boeing said it was disappointed the commission didn't recognize the harm that Boeing has suffered.