U.S. Says Chinese Government Blocks Boeing Aircraft Purchases

US Secretary of Commerce Gina Raimondo speaks during an interview with Reuters at the Department of Commerce in Washington, September 23, 2021. REUTERS / Kevin Lamarque

WASHINGTON, Sept.28 (Reuters) – US Secretary of Commerce Gina Raimondo said on Tuesday that the Chinese government was blocking its national airlines from buying “tens of billions of dollars” in Boeing Co (BN) aircraft manufactured in the United States. United States.

Raimondo said China is failing to meet U.S. product purchase commitments it made in 2020 under a trade deal with the previous administration.

“I don’t know if Boeing is there.… There are tens of billions of dollars in planes that Chinese airlines want to buy but the Chinese government is blocking it,” she said in a meeting. questions and answers after a speech in Washington.

Boeing shares fell 2.6% on Tuesday to $ 218.41.

In a separate interview with National Public Radio on Tuesday, Raimondo confirmed that she was specifically referring to China’s blocking of purchases of Boeing aircraft.

“The Chinese have to play by the rules. We have to keep our feet on the fire and hold them accountable,” she said.

Boeing declined to comment. The Chinese embassy in Washington did not immediately comment.

Boeing chief executive Dave Calhoun in March urged the United States to separate human rights and other disputes from trade relations with Beijing. Read more

“I hope that we can sort of separate intellectual property, human rights and other things from trade and continue to encourage a free trade environment between these two economic behemoths,” Calhoun told the ‘era. “We cannot afford to be excluded from this market.”

Last week, Boeing slightly raised its forecast for China’s aircraft demand for the next 20 years, betting on the country’s rapid rebound after COVID-19 and the future growth of its low-cost airline industry and of electronic commerce.

Boeing has estimated that Chinese airlines will need 8,700 new planes by 2040, 1.2% more than its previous forecast of 8,600 planes last year. These would be worth $ 1.47 trillion based on list prices, Boeing said.

China’s aviation authority, the first regulator to immobilize the Boeing 737 MAX following two fatal crashes, has yet to approve the plane’s return to service in the country. China accounts for a quarter of Boeing’s aircraft orders.

Reporting by David Shepardson Editing by Sonya Hepinstall and David Gregorio

Our Standards: Thomson Reuters Trust Principles.

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