Boeing (BA) stock dropped more than 2% in premarket trading on Tuesday after reports emerged that China has ordered its airlines to halt further deliveries of Boeing jets, according to Bloomberg News.
This move marks the latest escalation in what Yahoo Finance’s Senior Columnist Rick Newman refers to as the “giant trade war” that has unfolded between the US and China. As Newman highlights in his latest piece, this conflict, which initially began with targeted tariffs, has now morphed into a full-scale trade war, with China as the primary adversary and smaller skirmishes occurring with other nations.
This tit-for-tat escalation has significantly impacted industries, especially those reliant on global supply chains. The Boeing delivery halt is just one example of how the trade war continues to ripple through various sectors, with repercussions felt by businesses and consumers alike.