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Canadian aerospace groups warn fresh tariffs could raise costs on engine repairs, parts

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. s-could-raise-costs-on-engine-repairs-parts.html
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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Escalating U.S. tariffs and Canadian retaliatory duties could raise costs on items from aircraft components to engine repairs, according to aerospace trade groups in Canada, as a fresh round of the U.
The article from MSN discusses concerns raised by Canadian aerospace companies regarding potential new tariffs on engine repairs and parts. These companies, including major players like Bombardier and Pratt & Whitney Canada, are worried that the U.S. International Trade Commission's (ITC) decision to impose duties on civil aircraft parts could significantly increase costs. The ITC's preliminary ruling suggests that these parts, when imported from Canada, might be unfairly subsidized, leading to proposed duties of up to 300%. This could affect the competitiveness of Canadian aerospace firms, potentially leading to higher costs for airlines and passengers, and could disrupt the integrated supply chain between Canada and the U.S. The companies argue that these tariffs could harm the industry, which is already facing challenges from global competition and the economic impacts of the recent global health crisis.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/topstories/canadian-aerospace-groups-warn-fresh-tariffs-could-raise-costs-on-engine-repairs-parts/ar-AA1BBPWL ]