Today, the International Trade Commission will decide on the legality of a US-imposed 300% tariff on the sale of jets
Today, the International Trade Commission will decide on the legality of a US-imposed 300% tariff on the sale of jets from Canadian plane manufacturer Bombardier to US companies.
The duty is in response to an accusation made by the Boeing, which claims that Bombardier sold 75 aircraft to Delta at incredibly low prices in 2016, thereby hurting business for the American jet-making giant.
Earlier this week Trump signed similar measures to increase the duty on washers by up to 50% and solar panels up to 30%. As China is one of the largest exporters of such products, these tariffs are direct jab at Beijing. Although the administration claims this will force manufacturers to bring back employment, critics say any benefit will be marginal and long-term, while causing immediate job loss.
Such policies have even bigger implications on the international stage. Look to Trump to make a final decision regarding the massive tariffs on Canadian jets in the coming months. Though the tariff might not be a deal-breaker, further roadblocks in the ongoing renegotiation of NAFTA could arise if it is approved.
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