By Adriano Marchese
Bombardier's shares were down in lock-step with Canadian auto makers after U.S. President Trump redoubled his threats to Canadian imports and its auto industry.
Shares of the Canadian business jet manufacturer fell 4.5% to 77.48 Canadian dollars ($53.66).
On the Truth Social platform, Trump said he would apply an additional 25% tariff on imports of Canadian steel and aluminum in response to Ontario's retaliatory electricity tariff it announced on March 10.
In the same post, Trump said he would also "substantially increase" tariffs on cars coming into the U.S. from Canada, starting in early April in response to claims of high Canadian tariffs on U.S. dairy exports.
"If other egregious, long time tariffs are not likewise dropped by Canada, I will substantially increase, on April 2nd, the tariffs on cars coming into the U.S. which will, essentially, permanently shut down the automobile manufacturing business in Canada," he said on Truth Social.
Bombardier's stock has been under pressure since tariffs were suggested in November. Shares are down 21% year-to-date, but still 48% higher over the past 52 weeks.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 11, 2025 11:30 ET (15:30 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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