Business Briefs – May 18, 2017

Canada Warns It May Cancel US Jet Buy Over Bombardier Probe

TORONTO (AP) – Canada’s government is warning it could cancel a planned purchase of 18 Super Hornet fighter jets from Boeing Co. because of U.S. Department of Commerce anti-dumping investigations against Canadian plane maker Bombardier.

Foreign Minister Chrystia Freeland issued the threat in a statement Thursday. She says the government is “reviewing current military procurement that relates to Boeing.”

Boeing argued at a hearing in Washington on Thursday that duties should be imposed on Bombardier’s new larger CSeries passenger aircraft, insisting it receives Canadian government subsidies that give it an advantage internationally.

Freeland says Boeing’s petition is “clearly aimed at blocking Bombardier’s new aircraft, the CSeries aircraft, from entering the U.S. market.” She says the government strongly disagrees with the Commerce Department’s decision to initiate anti-dumping and countervailing duty investigations.

Treasury Chief Says U.S. Can Achieve 3 Percent Economic Growth

WASHINGTON (AP) – Treasury Secretary Steven Mnuchin says a goal of 3 percent economic growth is achievable if the United States makes historic changes in taxes and regulation.

Mnuchin was testifying before the Senate Banking, Housing and Urban Affairs Committee — his first appearance before that committee since being sworn in.

He says 100 people at his department are working on overhauling the tax system — and the Trump administration’s goal is to bring “meaningful relief” to the middle class and makes American businesses competitive.