Europe
Canada vying for Safran Plant Despite Tariff Threat
• Canada is reportedly running for a carbon brakes factory from France’s Safran SAF, despite a 25% tariff threat from U.S. President Donald Trump.
• The jet engine maker has shortlisted France, Canada, and the U.S. as potential factory sites.
• The decision is expected in the first half of 2025.
• Minister Francois-Philippe Champagne emphasized that the aerospace industry typically has an investment cycle of over a decade or two.
• The Canadian dollar weakened to a near two-week low against its U.S counterpart due to concerns over 25% U.S. trade tariffs against Canada and Mexico.
• Safran, 11% owned by the French government, plans to open a new factory for energy-intensive carbon brake production in Lyon, France, but the project was postponed due to the pandemic and European energy prices.
• Safran is considering other options in addition to France, including competitive energy prices, stable and clean supplies, and a 10-year price visibility.
