China has ordered its airlines to suspend deliveries of Boeing aircraft and halt purchases of U.S.-made aviation parts in retaliation for Trump’s escalating trade tariffs, according to Bloomberg. The move follows China’s announcement of a 125% tariff on American goods, raising the total tariff burden on Chinese imports from the U.S. to 145%. The order affects about 10 Boeing 737 Max jets slated for Chinese carriers, though some may still enter the country on a case-by-case basis. China accounts for 20% of global aircraft demand and has been shifting away from Boeing toward Airbus and domestically produced jets. Boeing shares dropped in Tuesday's premarket trading.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02China has ordered its airlines to suspend deliveries of Boeing aircraft
00:05and hauled purchases of U.S.-made aviation parts
00:08in retaliation for Trump's escalating trade tariffs, according to Bloomberg.
00:12The move follows China's announcement of a 125% tariff on American goods,
00:17raising the total tariff burden on Chinese imports from the U.S. to 145%.
00:21The order affects about 10 Boeing 737 max jets slated for Chinese carriers,
00:26though some may still enter the country on a case-by-case basis.
00:29China accounts for 20% of global aircraft demand
00:32and has been shifting away from Boeing toward Airbus and domestically produced jets.
00:36Boeing shares dropped in Tuesday's pre-market trading.
00:39For all things money, visit Benzinga.com slash GSTV.