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Last month, the United States International Trade Commission (ITC) voted unanimously against Boeing in a trade case it brought against its rival, Bombardier. Boeing had argued that Bombardier had illegally harmed their business by offering Delta Airlines a series of jets at a low rate. This claim was dubious, and was a clear attempt to try and eliminate their competition. The ITC’s decision is a victory for trade and anti-cronyism.
Competition is the hallmark of our economy. It promotes freedom of choice, innovation, and will lead to better products and prices for consumers. Not only that, but it is a key driver of job growth for Americans.
FreedomWorks commented on Boeing’s official complaint against Bombardier for selling airplanes at a low price. FreedomWorks President Adam Brandon released this statement following the U.S. International Trade Commission's vote to move forward with a preliminary finding:
Boeing, the very same company, that received a whopping $7.4 billion in long-term loan guarantees from the Import-Export bank in 2014 recently submitted a formal U.S. trade complaint against Bombardier, a Canadian aircraft company on May 18 for its unfair trade practices. The pot calling the kettle black is an understatement when referring to Boeing’s complaint against Bombardier.
From the moment Boeing laid eyes on the Export-Import Bank, it was love at first sight. Boeing has benefited from the Ex-Im Bank far more than any other company--especially last year when it secured 68.3 percent of all of the bank’s long-term loan guarantees. Their crony relationship has only strengthened over the years, to the point that people now refer to the Ex-Im as “Boeing’s Bank.”
Reauthorization of the U.S. Export-Import Bank is one of the few agenda items that Congress is expected to address when legislators return from their summer break. The Export-Import Bank, which provides financing for foreign buyers of products from U.S. based companies, needs Congressional approval by September 30 to continue its operation.
Is it now criminal to operate a successful business?In the looter-world of Ayn Rand’s Atlas Shrugged, it is. The modern United States has yet to declare making a profit and creating jobs illegal.