CHINA has ordered its airlines not to take further deliveries of Boeing jets in response to the US decision to impose 145 per cent tariffs on Chinese goods, according to people familiar with the matter, reports Reuters.
Shares of Boeing, which considers china one of its biggest growth markets and where rival Airbus holds a dominant position, were down 0.5 per cent in midday trading.
The global aerospace industry is being dragged into a US-led trade war, with planemakers, airlines and suppliers reviewing contracts worth billions of dollars, after US supplier Howmet Aerospace ignited debate over who should bear the cost of the tariffs.
Confusion over changing tariffs could leave aircraft deliveries in limbo, with some airline CEOs saying they would defer delivery of planes rather than pay duties.
China's top three airlines - Air China, China Eastern Airlines and China Southern Airlines - had planned to take delivery of 45, 53 and 81 Boeing planes respectively between 2025 and 2027.
SeaNews Turkey
Shares of Boeing, which considers china one of its biggest growth markets and where rival Airbus holds a dominant position, were down 0.5 per cent in midday trading.
The global aerospace industry is being dragged into a US-led trade war, with planemakers, airlines and suppliers reviewing contracts worth billions of dollars, after US supplier Howmet Aerospace ignited debate over who should bear the cost of the tariffs.
Confusion over changing tariffs could leave aircraft deliveries in limbo, with some airline CEOs saying they would defer delivery of planes rather than pay duties.
China's top three airlines - Air China, China Eastern Airlines and China Southern Airlines - had planned to take delivery of 45, 53 and 81 Boeing planes respectively between 2025 and 2027.
SeaNews Turkey
