Continuing trade tensions between the US and China could damage future sales of widebody aircraft, according to Boeing CEO Dennis Muilenburg. Airlines in China are expected to require roughly 7,700 jets within the next two decades but, with Chinese retaliatory tariffs set to increase from 15-25% to 30% in December , Muilenburg predicts losing out on sales of the company's 767, 777 and 787 planes. The Trump administration has imposed a 10% tariff on steel imports from Canada, Mexico and other countries, which will add about $50 billion to costs for American steelmakers, but it is unclear how much impact that would
Continuing trade tensions between the US and China could damage future sales of widebody aircraft, according to Boeing CEO Dennis Muilenburg. Airlines in China are expected to require roughly 7,700 jets within the next two decades but, with Chinese retaliatory tariffs set to increase from 15-25% to 30% in December, Muilenburg predicts losing out on sales of the company's 767, 777 and 787 planes. Furthermore, these widebody aircraft require long lead times and bespoke fittings for each airline, meaning that Boeing has already reserved production capacity for potential Chinese orders that may never come in.