New Delhi, April 15 -- In a significant escalation of the ongoing trade war between China and the United States, Beijing has directed its airlines to cease taking deliveries of Boeing aircraft in response to the US imposing steep tariffs of up to 145% on Chinese goods.
This move, reported by Bloomberg, highlights the intensifying strain in bilateral relations and delivers a substantial blow to Boeing, which relies heavily on China as a key market.
Shares of Boeing - which looks at China as one of its biggest growth markets and where rival Airbus holds a dominant position - were down 3% in premarket trading.
Beijing has also asked that Chinese carriers halt purchases of aircraft-related equipment and parts from US companies, the Bloombe...
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