It is said that China has ordered its airlines to stop any further delivers of Boeing jets as trade tensions continue with the US for the time being. It doesn’t just stop there though. Beijing has also called for Chinese carriers to also halt any purchases of aircraft-related equipment and parts from US firms as well.
The order is said to have come after Beijing unveiled retaliatory tariffs at the end of last week here.
With Airbus already leading the way in terms of market share in China, this will just add to a further setback to Boeing’s plans to try and win back some ground. That as China is forecast to make up roughly 20% of global aircraft demand in the coming two decades.
This article was written by Justin Low at www.forexlive.com.