KEY TAKEAWAYS
- China reportedly has withdrawn a ruling imposed in early April barring its airlines from taking delivery of Boeing planes.
- According to Bloomberg, which had reported the initial ban, Beijing removed the order after the U.S. and China announced a temporary reduction of tariffs on each other's imports Monday.
- Boeing shares, which are up 12% so far this year entering Tuesday, edged higher in premarket trading.
China reportedly has withdrawn a ruling imposed in early April barring its airlines from taking delivery of Boeing (BA) planes.
According to Bloomberg, which had reported the initial ban, Beijing removed the order after the U.S. and China announced a 澳洲幸运5官方开奖结果体彩网:temporary reduction of tariffs on each other's imports Monday.
Citing people familiar with the matter, the report said that officials told Chinese airlines and government agencies that they can resume deliveries of U.S.-made aircraft. The resumption of deliveries would be a boost for Boeing, although it "hasn't announced a major order in China in recent years due to trade tensions and self-inflicted issues," the report said.
The U.S. said Monday it would cut its levy on Chinese imports to 30% from 145% by Wednesday, while Beijing's tariffs on U.S. goods would drop to 10% from 125%.
Boeing shares, which are up 12% so far this year entering Tuesday, edged higher in premarket trading.