leadf
logo-loader
viewBoeing Co

Boeing hits air pocket after China hits back at U.S. tariffs

The Chinese throttle on Boeing is likely to give the US aerospace giant’s European rival Airbus SE a leg up

A model Boeing aircraft with company logo backdrop
The US aerospace giant braces for the US-China tariff dog fight

Boeing Co. (NYSE: BA) shares tumbled 7.2% in pre-market trading after China retaliated against U.S. tariffs, announcing sweeping tariff duties on key U.S. imports including an additional 25% tariff on U.S. aircraft.

The Chinese throttle on Boeing is likely to give the US aerospace giant’s European rival Airbus SE (EPA:AIR) a leg-up in the Chinese market, which is set to overtake the U.S. as the largest air travel market in the next five years.

None of the tariffs take effect immediately

The Trump administration on Tuesday threatened to slap sharp tariffs on some US$50bn in Chinese imports across 1,300 categories of products, including everything from dishwashers to televisions.

The aggressive move from the Trump administration provoked China to announce a planned levy on aircraft weighing between 15,000 kilograms (33,000 pounds) and 45,000 kilograms, which would include some variants of Boeing’s 737 family of passenger jets.

Even as markets brace for the US-China dogfight, none of the tariffs goes into effect immediately and may never be imposed if the two sides eventually agree on a deal to open the closed Chinese market to U.S imports.

Boeing, a component of the Dow Jones Industrial Average, was weighing on the index's futures in premarket trading, indicating a rout in U.S. market when the bell rings.

Quick facts: Boeing Co

Price: 216.5 USD

NYSE:BA
Market: NYSE
Market Cap: $122.22 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Swift Media CEO says big opportunities in aged care will drive its future growth

Swift Media Ltd's (ASX:SW1) chief executive Pippa Leary tells Proactive's Andrew Scott they're a specialist technology firm supplying entertainment and communication systems that connect and engage isolated communities. ''We do a lot of work with residential aged care but more recently we've...

6 hours, 16 minutes ago

2 min read