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.
Syrian President Ahmed al-Sharaa stressed to U.S. President Donald Trump in a phone call on Tuesday the importance of unifying international efforts t...
Residents in Syria’s Kurdish-majority city of Qamishli have stepped up volunteer patrols amid growing pressure from the country’s Islamist-led gov...
Sanctions are a long-used tool designed as an alternative to military force and with the objective of changing governments’ behaviour, but they also...
Azerbaijan’s participation in the United States-backed Board of Peace reflects a clear calculation of national interest, according to Chingiz Mammad...
Millions of people in Britain are struggling to afford basic necessities, with a new report warning that the number living in the deepest levels of po...
A factory mistake in eastern China has produced an unlikely Lunar New Year bestseller, as a plush horse with an upside down mouth has gone viral among young shoppers.
China has successfully completed its first metal 3D printing experiment in space, marking a significant step forward in the country’s efforts to develop in-orbit manufacturing capabilities.
The world has not fallen into disorder. What we are witnessing is the consolidation of a new global era shaped by power, influence, and competing centres of authority.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 25 January, covering the latest developments you need to know.
Minnesota Governor Tim Walz has activated the state’s National Guard following the fatal shooting of a U.S. citizen in Minneapolis, an incident that has triggered protests and intensified tensions between state and federal authorities.
Iran’s Foreign Ministry has strongly rejected a U.S. magazine report on the death toll during January unrest. Nationwide protests erupted in response to soaring inflation and a national currency crisis.
A mosaic portrait of Pope Leo XIV was illuminated on Sunday at the Basilica of St. Paul Outside the Walls in Rome, continuing a centuries-old Vatican tradition marking the election of a new pope.
The death toll from nationwide protests in Iran has climbed to 6,126, according to the U.S.-based Human Rights Activists News Agency (HRANA).
Serbian President Aleksandar Vučić, often viewed as a bellwether for the complex diplomatic currents between the Kremlin and the West, has issued a startling prediction regarding the endgame of the war in Ukraine.
A federal judge in Minnesota has ordered Acting Immigration and Customs Enforcement (ICE) Director Todd M. Lyons to appear in court on Friday and explain why he should not be held in contempt for failing to comply with multiple court orders, officials said.
Syrian President Ahmed al-Sharaa stressed to U.S. President Donald Trump in a phone call on Tuesday the importance of unifying international efforts to prevent the return of "terrorist groups", including Islamic State.
Millions of people in Britain are struggling to afford basic necessities, with a new report warning that the number living in the deepest levels of poverty has reached a 30-year high, driven by soaring housing costs and rising child poverty.
India and the European Union have finalised a long-pending trade deal, both sides said on Tuesday, calling it the “mother of all deals” as they seek to hedge against uncertainty in U.S. trade ties.
The Trump administration has signalled to Ukraine that U.S. security guarantees depend on Kyiv agreeing to a peace deal likely requiring it to cede the Donbas region to Russia, the Financial Times reported on Tuesday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment