China lifts ban on Boeing deliveries following US-China trade agreement: Report
Baku, May 13, AZERTAC
China has removed a one-month-long restriction on airlines receiving Boeing aircraft after a breakthrough in trade negotiations with the US that temporarily reduced tariffs on both sides, Anadolu Agency reported citing Bloomberg.
According to sources, Beijing officials have begun informing local airlines and government agencies that deliveries of US-made aircraft can continue.
Additionally, the airlines have been granted the freedom to arrange delivery according to their own schedule and conditions.
The easing in the restriction came after the world's top two economies announced a trade agreement with the US reducing its total 145% tariffs on the majority of Chinese goods to 30% for a period of 90 days. As of April 2, China also suspended any further actions against the US and reduced its 125% levies on US imports to 10%.
In a joint statement, both governments acknowledged the importance of "a sustainable, long-term, and mutually beneficial" trade relationship.
Boeing had found itself in a difficult situation after China retaliated with tariffs following US President Donald Trump announcing tariffs on most major trading partners.
On April 15, Beijing ordered airlines to cease delivering Boeing aircraft, and thus priced the company's planes out of the Chinese carrier market.
Trump confirmed on that same date that China had withdrawn and would not take delivery of airplanes from a major Boeing deal.
"They just reneged on the big Boeing deal, saying that they will 'not take poss ession' of fully committed to aircraft," Trump said.
The resumption of deliveries is expected to positively impact Boeing's business relations and operations within China, one of the largest aviation markets globally.
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