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China Pulls Out of Boeing Aircraft Agreement
(MENAFN) On Tuesday, United States Leader Donald Trump revealed that China has backed out of a significant agreement involving the purchase of airplanes from Boeing.
Speaking on Truth Social, Trump remarked, "They just reneged on the big Boeing deal, saying that they will 'not take possession' of fully committed to aircraft."
This statement indicated that China will no longer receive or accept delivery of planes it had previously committed to buying.
Trump further emphasized that American agricultural producers are bearing the brunt of the ongoing "trade war," describing China’s approach during his previous term as "brutal" toward U.S. farmers. According to him, the farmers have found themselves on the "front line" of this economic conflict.
Following reports suggesting that the Chinese government had advised its airlines not to purchase Boeing aircraft, the company's shares declined by 2.36 percent. This move seemed to reflect China's shifting stance in response to deteriorating trade relations.
China was quick to retaliate against the United States' tariff hikes, mirroring the increases with identical intensity.
In the midst of the tariff dispute, Washington raised its duties on Chinese imports to 145 percent, while Beijing reciprocated by increasing its own tariffs on American goods to 125 percent.
Unlike other countries whose tariff penalties were temporarily delayed for 90 days, China experienced no such reprieve—its tariffs were implemented immediately.
Later, Trump stated that specific tech-related products such as smartphones, laptops, hard drives, processors, and microchips would be spared from the additional levies.
In a final update late Tuesday, the White House declared that due to China’s retaliatory stance, the country could now be subject to tariffs as high as 245 percent.
Speaking on Truth Social, Trump remarked, "They just reneged on the big Boeing deal, saying that they will 'not take possession' of fully committed to aircraft."
This statement indicated that China will no longer receive or accept delivery of planes it had previously committed to buying.
Trump further emphasized that American agricultural producers are bearing the brunt of the ongoing "trade war," describing China’s approach during his previous term as "brutal" toward U.S. farmers. According to him, the farmers have found themselves on the "front line" of this economic conflict.
Following reports suggesting that the Chinese government had advised its airlines not to purchase Boeing aircraft, the company's shares declined by 2.36 percent. This move seemed to reflect China's shifting stance in response to deteriorating trade relations.
China was quick to retaliate against the United States' tariff hikes, mirroring the increases with identical intensity.
In the midst of the tariff dispute, Washington raised its duties on Chinese imports to 145 percent, while Beijing reciprocated by increasing its own tariffs on American goods to 125 percent.
Unlike other countries whose tariff penalties were temporarily delayed for 90 days, China experienced no such reprieve—its tariffs were implemented immediately.
Later, Trump stated that specific tech-related products such as smartphones, laptops, hard drives, processors, and microchips would be spared from the additional levies.
In a final update late Tuesday, the White House declared that due to China’s retaliatory stance, the country could now be subject to tariffs as high as 245 percent.
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