China has ordered its airlines to suspend further deliveries of Boeing jets in response to the United States' decision to impose 145% tariffs on Chinese goods, according to a Bloomberg News report on Tuesday.
This move escalates the ongoing trade dispute between the two countries, adding pressure to Boeing, which considers China one of its key markets.
Shares of Boeing fell by 3% in premarket trading following the news, while shares of its rival Airbus rose by 1%. The suspension of deliveries is a significant blow to Boeing, as China is a major growth market for the company. The country's top three airlines—Air China, China Eastern Airlines, and China Southern Airlines—were set to receive 45, 53, and 81 Boeing jets, respectively, between 2025 and 2027.
In addition to halting the delivery of Boeing aircraft, the Chinese government has reportedly instructed Chinese carriers to cease purchasing aircraft-related parts and equipment from U.S. companies. This could lead to higher maintenance costs for Boeing jets operating in China, compounding the difficulties faced by the American aerospace giant.
China’s decision follows a broader pattern of retaliatory measures against U.S. tariffs. Last week, Beijing raised tariffs on U.S. imports to 125%, significantly increasing the cost of Boeing jets for Chinese carriers. This move may push airlines to consider alternatives, including Airbus and China's domestic aircraft manufacturer COMAC.
The halt in deliveries to China is a setback for Boeing, which has already been grappling with the fallout from the grounding of its 737 MAX jets after two deadly crashes in 2018 and 2019. Boeing's recovery has been slow, compounded by labor strikes, regulatory scrutiny, and supply chain disruptions.
The escalating tariffs between the U.S. and China have the potential to severely impact global trade, with analysts warning that the ongoing trade war could bring goods trade between the two largest economies to a standstill. In 2024, trade between the two nations was valued at over $650 billion.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling t...
The Saudi-led coalition in Yemen said late Monday that it intercepted and destroyed two ballistic missiles laun...
North Korean leader Kim Jong Un has visited a newly opened defence museum displaying weapons developed under his leadership, including an intercont...
One person was killed and nearly a dozen hurt in a fresh attack on Riyadh's international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen's Houthis killed 13 people and wounded more than 300.
Yemen's Houthis renewed warning to airlines, airport workers, and travellers against using Saudi airports, saying the warning should be taken seriously and that the kingdom “bore responsibility for failed interceptions”, a day after an attack on Riyadh's international airport that killed 12 people.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
The Kremlin on Monday rejected a 60-day ceasefire idea proposed by Ukrainian President Volodymyr Zelenskyy to allow his country to hold presidential elections, saying it wanted an overall peace deal instead.
The Saudi-led coalition in Yemen said late Monday that it intercepted and destroyed two ballistic missiles launched by the Houthi group toward Khamis Mushait in southwestern Saudi Arabia.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling to accept the energy ceasefire announced by U.S. President Donald Trump.
North Korean leader Kim Jong Un has visited a newly opened defence museum displaying weapons developed under his leadership, including an intercontinental ballistic missile capable of reaching the United States.
Southeast Asian foreign ministers are set to discuss measures to tackle transboundary haze during preparatory meetings ahead of the ASEAN summit in November, as forest and land fires in Indonesia continue to affect air quality across the region, the Philippines said on Tuesday.
Britain's Prime Minister Andy Burnham has said the United Kingdom believes Iran was likely behind an alleged plot connected to RAF Fairford, a military airbase in Gloucestershire in England that has played a role in U.S. operations against Iran, escalating tensions between London and Tehran.
Democratic Congresswoman Ilhan Omar has accused the Trump administration of using federal law enforcement for political purposes after authorities searched her Washington-area home as part of an ongoing criminal investigation.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment