Overview
- China has refused to accept new Boeing aircraft and returned previously delivered planes, citing ongoing trade disputes with the United States.
- Boeing CEO Kelly Ortberg confirmed the developments and announced plans to seek alternative buyers for the returned planes.
- The US-China trade conflict has escalated with tariffs of 145% on Chinese imports and 125% counter-tariffs, though President Trump has hinted at potential tariff reductions.
- Boeing reported a first-quarter net loss of $123 million, which was smaller than analysts expected, alongside an 18% year-over-year revenue increase to $19.5 billion.
- Boeing shares rose over 6% on Wall Street, driven by optimism over trade resolution prospects and the company’s financial performance.