UK business minister travels to Canada for talks on BombardierStaff Writer | October 20, 2017
British Business Secretary Greg Clark will hold talks in Canada on Friday to discuss Airbus’s plans to buy a majority stake in Bombardier’s C-Series jetliner program aimed at helping it avoid high U.S. import tariffs.
Trade relations Airbus would take a 50.01 percent stake
A deal announced earlier this week gives Airbus a controlling stake in the Canadian manufacturer’s troubled C-Series jets, which are partly made in Northern Ireland.
The tie up gives Bombardier a possible way out of a damaging trade dispute with Boeing, in which the U.S. Commerce Department has threatened to impose 300 percent import duties, potentially threatening thousands of jobs in Northern Ireland.
Under the deal, Airbus would take a 50.01 percent stake in the C Series and add an assembly line for the plane in Alabama, thus becoming a U.S.-made product so it can avoid anti-subsidy and anti-dumping duties. ■