Bombardier victorious

UPDATE 12:29 p.m.

The U.S. International Trade Commission has ruled in favour of Montreal's Bombardier Inc. in a trade dispute with Chicago-based Boeing Co.

Commissioners voted unanimously that Boeing did not suffer harm from prospective imports of C Series commercial jets.

The ruling means the anti-dumping and countervailing duties totalling 292.21 per cent that were imposed by the U.S. Department of Commerce won't be applied.

Bombardier called the decision "a victory for innovation, competition, and the rule of law."

The Montreal-based company also says it is a victory for U.S. airlines and the American travelling public.

Bombardier says it will now move to finalize its partnership with Airbus SE.

Chicago-based Boeing says it is disappointed by the decision and will review the commission's detailed opinions when they are released in the coming days.

It says it will continue to document any harm to Boeing from illegal subsidies and dumping pricing.

Boeing launched the trade case last April, arguing that governments in Canada and Britain subsidized the plane's development and allowed Bombardier to sell it at unfairly low prices.

Bombardier stock shot up 16 per cent to $3.56 immediately after the ruling.

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ORIGINAL 11:51 a.m.

The U.S. International Trade Commission has ruled in favour of Montreal's Bombardier Inc. in a trade dispute with U.S.-based Boeing Co. Commissioners voted that Boeing did not suffer harm from prospective imports of C Series commercial jets.

More to come...