The US just picked a nasty trade fight with Canada — and it’s likely to backfire

The US just slapped an astronomical 220 percent tariff on a new line of Bombardier jets after Boeing accused the Canadian company of receiving unfair government subsidies. It’s an incredibly harsh penalty that has angered two of America’s closest allies, Canada and the United Kingdom (where Bombardier manufactures this line of jets’ wings and provides thousands of jobs). Those countries have threatened to retaliate against the US by dropping contracts with Boeing for defense aircraft, potentially costing thousands of US jobs.

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