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.
Saudi Crown Prince Mohammed bin Salman has unveiled a major development project near Mecca’s Grand Mosque that will add approximately 900,000 new in...
A planned meeting between Georgian Prime Minister Irakli Kobakhidze and the OSCE Chairperson-in-Office, Finnish Foreign Minister Elina Valtonen, was a...
The world's largest inland body of water is experiencing an unprecedented environmental catastrophe that threatens to reshape the geopolitical and eco...
Türkiye has appointed Mehmet Gulluoglu, former head of its disaster management agency AFAD, to lead its humanitarian aid efforts in Gaza, a Foreign M...
Johnson & Johnson (J&J) is facing its first lawsuits in the United Kingdom over claims that its talc-based products cause cancer, as it continues to b...
Chinese state media on Thursday issued a seven-point rebuttal to U.S. calls for Beijing to wind back its rare earth controls, as both sides struggle to move beyond a volley of barbs and accusations of blindsiding the other.
British Prime Minister Keir Starmer on Wednesday published a senior official's evidence in the prosecution of two men charged with spying for China, seeking to demonstrate that the case did not collapse because of government manipulation.
China has voiced its readiness to enhance high-level exchanges with France during a strategic dialogue between Foreign Minister Wang Yi and Emmanuel Bonne, the French president’s diplomatic adviser, according to a statement released by the Chinese Foreign Ministry on Thursday.
China’s largest state-owned airlines have criticised a U.S. plan to stop them flying over Russia on journeys to or from the United States, warning it would inconvenience travellers and raise costs.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
Saudi Crown Prince Mohammed bin Salman has unveiled a major development project near Mecca’s Grand Mosque that will add approximately 900,000 new indoor and outdoor praying spaces, according to the company overseeing the plan.
Türkiye has appointed Mehmet Gulluoglu, former head of its disaster management agency AFAD, to lead its humanitarian aid efforts in Gaza, a Foreign Ministry source confirmed.
French Prime Minister Sebastien Lecornu survived two no-confidence votes in parliament on Thursday, winning crucial backing from the Socialist Party.
Thousands of mourners briefly stormed Nairobi's international airport on Thursday, interrupting a ceremony for the body of veteran opposition leader Raila Odinga, with crowds also flooding nearby roads and trying to breach parliament.
Renewed border clashes between Pakistan and Afghanistan have left at least 18 people dead and more than 360 injured, the United Nations has reported, amid growing calls for an urgent ceasefire to protect civilians.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment