Alonso Soto and Lisandra Paraguassu – Reuters, 07/15/2016
Brazil may launch a trade challenge against Canada over state funding to struggling planemaker Bombardier Inc that could hurt Brazilian rival Embraer, Foreign Minister Jose Serra told Reuters on Thursday.
Serra, a former presidential candidate who took over the ministry two months ago, said a $1 billion investment in Bombardier from the province of Quebec was a “subsidy” and gave the company an unfair advantage against Embraer.
“We are studying opening (a challenge) again as in the past,” Serra said in an interview. “Why the need for that subsidy from Quebec?”
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