Credited from: CHANNELNEWSASIA
China has officially removed a month-long ban on airlines taking delivery of Boeing aircraft following a breakthrough in trade negotiations with the United States that included a temporary reduction in tariffs between the two countries, according to Bloomberg, India Times, and Channel News Asia.
Reports indicate that Chinese officials have started communicating with local airlines and governmental agencies about resuming deliveries of US-made Boeing aircraft. As part of this decision, airlines have been granted the flexibility to arrange the timing and logistics for these deliveries independently, as confirmed by Channel News Asia and Reuters.
This change comes after the US reduced tariffs from a staggering 145% on Chinese goods to 30% for a 90-day period. Similarly, China has lowered its 125% tariffs on US imports to 10% during this time, as noted by Anadolu Agency and Bloomberg.
The lifting of the ban marks a significant step forward for Boeing, which has faced numerous challenges due to trade disputes and regulatory issues. Industry experts suggest that the resumption of deliveries could revive Boeing's standing in the Chinese market, which historically accounted for a substantial share of its business, according to India Times and Reuters.