BusinessPostCorner.com
No Result
View All Result
Sunday, May 25, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

China sends Boeing planes back to US over Trump tariffs

April 23, 2025
in Business
Reading Time: 5 mins read
A A
0
China sends Boeing planes back to US over Trump tariffs
ShareShareShareShareShare
Simon Browning

Business reporter, BBC News

Reuters A Boeing 737 MAX 8, the second jet intended for use by a Chinese airline to be returned to its manufacturer, lands at Boeing Field, as trade tensions escalate over U.S. tariffs with China,Reuters

A Boeing 737 MAX 8 intended for a Chinese airline is returned to a Boeing airfield, as trade tensions escalate over US tariffs on Chinese imports

China has sent back planes it ordered from the US in its latest retaliation over Trump tariffs, the boss of aircraft maker Boeing has said.

Kelly Ortberg said two planes had already been returned and another would follow after trade tensions between the two countries escalated.

Boeing’s chief executive told CNBC that 50 more planes were due to go to China this year but their customers had indicated they will not take delivery of them.

The US put 145% tariffs on imports from China and it hit back with a 125% tax on US products.

Reuters A Boeing 737 MAX 8, the second jet intended for use by a Chinese airline to be returned to its manufacturer, flies mid-air before landing at Boeing Field, as trade tensions escalate over U.S. tariffs with China, in Seattle, Washington, U.S. April 22, 2025.Reuters

A Boeing 737 MAX 8, the second jet intended for use by a Chinese airline to be returned to its manufacturer, flies mid-air before landing at Boeing Field.

Speaking in the Oval Office on Tuesday, Trump said he was optimistic about improving trade relations with China, saying the level of tariffs he had imposed would “come down substantially, but it won’t be zero”.

However, Mr Ortberg said China “have in fact stopped taking delivery of aircraft because of tariff environment”.

Boeing is America’s largest exporter with about 70% of its commercial aircraft sales outside of the US.

Mr Ortberg said Boeing was assessing options to re-market 41 of the already built planes to other customers as there was high demand from other airlines.

He said there were nine planes not yet in Boeing’s production system and he wanted to “understand their intentions and if necessary we can assign to other customers”.

He added Boeing was “not going continue to build aircraft for customers who will not take them”.

Boeing in daily talks with Trump’s team

Later in the afternoon, Mr Ortberg told an investor call “there is not a day that goes by that we’re not engaged with either cabinet secretaries or either POTUS himself (President Trump) regarding the trade war between China and the USA.”

He added he was “very hopeful we’ll get to some negotiations”.

On Wednesday, America’s Treasury Secretary Scott Bessent told the International Monetary Fund (IMF) conference there was an opportunity for a “big deal” between the US and China on trade.

Asked about an upcoming meeting between the countries, Bessent said it would be an “incredible opportunity” to strike an agreement, if China was “serious” on making its economy less dependent on manufacturing exports.

Mr Ortberg also told investors others in the Boeing supply chain were now exposed to tariffs – mainly in Japan and Italy where universal tariffs of 10% are being implemented.

Brian West, Boeing’s chief financial officer said during the call “free trade policy is very important to us” and Boeing will continue to work to with suppliers to ensure continuity.

Boeing has reported smaller losses for the first quarter of the year after it manufactured and delivered more planes.

Production had slumped in 2024 due to a series of crises and a strike by about 30,000 American factory workers.

It wants to increase output of its 737 MAX jets to 38 a month in 2025.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Grant Thornton unites firms in US, UAE, Luxembourg, Cayman

Next Post

Deadline for 2025 Best Accounting Firms to Work For applications set

Next Post
Deadline for 2025 Best Accounting Firms to Work For applications set

Deadline for 2025 Best Accounting Firms to Work For applications set

Donald Trump backs Nippon Steel partnership with US Steel

Donald Trump backs Nippon Steel partnership with US Steel

May 23, 2025
Bitcoin Could Hit 5K by End of Q2, Says Bybit’s Head of Derivatives

Bitcoin Could Hit $125K by End of Q2, Says Bybit’s Head of Derivatives

May 24, 2025
Pro-EU centrist set to win Romanian presidency

Pro-EU centrist set to win Romanian presidency

May 18, 2025
UKG announces AI agents as HR tech vendors race to innovate

UKG announces AI agents as HR tech vendors race to innovate

May 22, 2025
Qakbot Malware Developer’s M in Crypto Seized – Is a Bigger DOJ Crackdown Coming?

Qakbot Malware Developer’s $24M in Crypto Seized – Is a Bigger DOJ Crackdown Coming?

May 23, 2025
Japan signals intent to reach US tariff deal by G-7 in June

Japan signals intent to reach US tariff deal by G-7 in June

May 24, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Hyperliquid Trader James Wynn Exits .25B Long Bitcoin Bet at a Loss 

Hyperliquid Trader James Wynn Exits $1.25B Long Bitcoin Bet at a Loss 

May 25, 2025
How Heineken tapped into China’s beer market

How Heineken tapped into China’s beer market

May 25, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!