China Resumed Boeing Imports After Reduction in Tariff
"Following Geneva talks, the U.S. and China agreed to lower tariffs, prompting China to lift its import ban on Boeing aircraft. Trade tensions ease as aviation orders resume." Announcement made on Monday - The United States will be lowering its tariffs to 30 per cent, and China to 10 per cent after Geneva talks.
China Resumed Boeing Imports After Reduction in Tariff
Boeing China Import Ban Lifted
China has lifted restrictions on Boeing, and started accepting new aircraft, a report said on Tuesday. The decision follows an agreement between Beijing and Washington to temporarily lower tariffs, marking a major de-escalation in their trade war.
Due to huge tit-for-tat levies imposed by the US and China last month, Chinese airlines had stopped accepting deliveries of new planes A statement issued by the American aircraft manufacturers.
China Aviation Market Reopens
According to Bloomberg News on Tuesday, Chinese officials have initiated instructing domestic carriers that they can resume orders of US-made aircraft, quoting people familiar with the matter. Currently Boeing has not responded to a request for comment. The two countries made an announcement on Monday to drastically reduce tariffs for 90 days, as well as continue negotiations.
US-China Trade Talks
China had come to 145 percent on Washington's fresh duties, while Beijing had hit back with duties of 125 percent on US goods. After talks in Geneva, the United States lowered tariffs to 30 per cent, and China reduced its own to 10 per cent. US President Donald Trump described the outcome as a "total reset" and suggested that talks with counterpart Xi Jinping could follow shortly. The Aircraft company chief executive Kelly Ortbeg said last month that he had planned to deliver around 50 aircraft to China in 2025. No immediate response has been reported by China's foreign ministry as well.
