Bombardier shares fall after Trump threatens US market access

In Toronto and Montreal trading on Tuesday, Bombardier shares recovered some of their earlier decline following President Donald Trump's threat to restrict the Canadian business-jet manufacturer's access to the profitable U.S. market—a region that generates roughly half of the company's revenue.

The stock was down 3% during morning trading, having initially fallen 6.4% at the open.

Trump issued the warning in a social media post on Monday, as tensions between Washington and Ottawa intensify. Canada has responded with retaliatory tariffs on $20 billion of American products. Bombardier's listing on the Toronto Stock Exchange was not active on Monday, as the exchange was closed.

The mechanism by which Trump could prevent delivery of Bombardier's private jets to U.S. customers remains unclear, given that the aircraft have already secured approval from the Federal Aviation Administration. Compared to other industries hit by duties in Trump's wider tariff campaign, aerospace has so far remained relatively insulated.

The White House did not immediately respond to requests for comment.

Trump is encountering resistance from fellow Republicans, as his expanding trade conflict with Canada becomes a campaign concern in several states leading up to the November midterm elections.

Bombardier employs 3,500 workers in the U.S., works with 2,800 suppliers nationwide, and manufactures components in strongly Republican states such as Texas. Its American defense subsidiary, based in Wichita, Kansas, operates a facility that converts Canadian-made business jets into military aircraft for defense contracts.

Representative Ron Estes of Kansas's Fourth District took to X on Monday night to voice opposition to aerospace tariffs and praised Bombardier's role in his state.

In his post, Estes stated: "Bombardier supports an extensive American supply chain, boasts maintenance and repair capabilities across the U.S., and is trusted by our military for critical national security missions."