China halts Boeing deliveries: As the trade war between the US and China escalates, with both countries imposing tariffs and counter-tariffs on each other, Beijing on Tuesday ordered to halt the delivery of Boeing Co. planes, Bloomberg reported. The report claims that the Chinese government has asked its domestic carriers to avoid purchasing aircraft-related equipment and parts from American companies.
China is considering ways to support airlines that lease Boeing jets and end up paying higher prices. The report further suggests that almost 10 Boeing 737 Max jets, which are being prepared to join the Chinese airlines, may be allowed to enter the country if facotrs like paperwork and payment on some of them are taken care of before Beijing's reciprocal tariffs take effect.
The development comes after US President Donald Trump decided to impose tariffs of up to 145 per cent on China.
Meanwhile, China's exports jumped 12.4% in March from a year earlier as companies rushed to beat increases in US tariffs imposed by US President Donald Trump, the government said Monday.
The biggest increases in exports were to China's Southeast Asian neighbors, which saw exports from China jump nearly 17% in March from a year earlier.
Chinese President Xi Jinping was travelling to Vietnam on Monday as part of a regional tour that also will take him to Malaysia and Cambodia, giving him an opportunity to firm up trade ties with other Asian countries that also are facing potentially steep tariffs, though last week Trump delayed enforcing them by 90 days.
(With inputs from AP)