Brazil to challenge Canada at WTO over Bombardier funding
Dec. 19, 2016 5:37 PM ET|About:
Bombardier Inc.A (BDRAF)|By:
Carl Surran, SA News Editor
Brazil's government says it will
challenge Canada's $2.5B in state funding for Bombardier (
OTCQX
DRAF,
OTCQX
DRBF) at the World Trade Organization, escalating longtime acrimonious relations between the company and Brazilian rival Embraer (NYSE:
ERJ).
The latest case involves recent support for Bombardier's CSeries program, which challenges ERJ's largest commercial jets, along with the smallest narrow-body aircraft made by Boeing and Airbus.
Bombardier said last week it was still seeking federal funds, and Prime Minister Trudeau said the government hoped to make announcements in the coming months.