On Apr. 4, China’s Ministry of Commerce released a statement to the Associated Press that it would impose 25 percent tariffs on 106 U.S. products worth $50 billion. These products included soybeans, automobiles, and aircrafts—specifically Boeing 747s.
This list of potential tariffs on U.S. exports to China was in response to President Trump’s list of proposed tariffs on exported Chinese goods.
On Apr. 4, Boeing released a statement on the potential trade war between the two economic giants, and how it might affect the company.
“Boeing is confident that dialogue continues. While both governments have outlined positions that could do harm to the global aerospace industry, neither has yet imposed these drastic measures,” said a statement issued by the company. “We will continue in our own efforts to proactively engage both governments and build on the recent assurances by U.S. and Chinese leaders that productive talks are ongoing. A strong and vibrant aerospace industry is important to the economic prosperity and national security of both countries.”
Following the announcement from China on Apr. 4, Boeing’s stock took a small tumble, but recovered and gained by Apr. 5.