Boeing (BA), the American company, shares are down in premarket trading on Tuesday after Beijing reportedly instructed its airlines to stop taking more deliveries of Boeing’s jets as the trade dispute between the U.S.
Beijing also "asked that Chinese carriers halt any purchases of aircraft-related equipment and parts from U.S. companies," Bloomberg reported, citing people familiar with the matter.
China raised its tariffs last Friday on imports from America from 145% to 125% in retaliation of the 145% duty its goods face from U.S. The report stated that the 125% tariffs on U.S. imported goods would have “more than doubled the price of U.S. made aircraft and parts making it impossible for Chinese airlines accept Boeing planes.”
Boeing shares, which had fallen 10% in the past year as of Tuesday morning, were down another 3% during premarket trading.
Boeing didn't immediately respond to a request for comment.
