Rising US tariffs impact: Boeing Impacted by US-China Trade War Tensions between the United States and China have been high in recent weeks as a result of a trade war between the two countries. One major US company, Boeing Co., has been significantly impacted. Boeing is one of the largest manufacturers of commercial airliners not just in the United States, but in the entire world. The company is listed on both the Fortune 500 list as well as the Fortune Global 500 list.
China Refuses Delivery of Boeing Planes
During an appearance on CNBC’s “Squawk on the Street” on Wednesday, Boeing CEO Kelly Ortberg revealed that China has refused the delivery of a few Boeing planes that were set to be delivered to China to be used by their commercial airlines. “They have in fact stopped taking delivery of aircraft due to the tariff environment,” Ortberg said during the interview.
Planes Returned to the US
Ortberg revealed that a few 737 Max planes that were in China and were set to be delivered to airlines in the nation have instead been flown back to the United States. This move highlights the direct impact of the trade war on Boeing’s business operations.
Boeing CEO’s Response
However, Ortberg does not seem all that worried about the turn of events. Instead, those plans will simply be sold elsewhere. “There’s plenty of customers out there looking for the Max aircraft,” Ortberg said. “We’re not going to wait too long. I’m not going to let this derail the recovery of our company.”
Still on Rising US tariffs impact
Impact on Companies
Obviously, companies throughout both countries are having to cope with the impacts of the trade war between the two nations. But this is certainly a high-profile example of how the tariffs are directly affecting one of the largest companies in the United States. The trade war’s effects on businesses like Boeing demonstrate the far-reaching consequences of the tariffs imposed by both countries.
Boeing’s Confidence
Despite the challenges posed by the trade war, Boeing’s CEO appears confident in the company’s ability to adapt and find alternative customers for the affected planes. This confidence reflects Boeing’s strong position in the global market and its ability to navigate complex trade environments.
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