Boeing (BA) shares tumbled Friday as 澳洲幸运5官方开奖结果体彩网:markets extended their sell-off after China's response to th❀e Trump administration's new tariffs.⛦

The 澳洲幸运5官方开奖结果体彩网:Chinese government said Friday that it would match the 34% tariff that the Trump administration announced on Wednesday, adding the tax to all A𝓡merican iಞmports by April 10.

Boeing is a company that could be affected by both sides of the 澳洲幸运5官方开奖结果体彩网:trade war, as the plane maker sources parts from around the world, manufactures its aircraft in the U.S., and exports them to airlines around the world, including in China.

The company faces other troubles, including a 澳洲幸运5官方开奖结果体彩网:looming trial or re🃏vised guilty plea for defrauding the government over violations of certain safety standards. Boeing CEO Kelly Ortberg told a Senate committee this week that the company is making progress on safety reforms.

Boeing shares were down nearly 9% at $137.60 in recent trading. Earlier in Friday's session, they hit $132.79, their lowest intraday point since October 2022.

Boeing Has Forecast 8,800 New Planes Bought by China's Airlines in Next 20 Years

Last August, Boeing said it forecast air travel demand within mainland China could increase by 5.2% per year, making it the largest air traffic market in the world. Boeing said it projects Chinese demand for over 8,800 planes in the next two decades, 60% as the air travel industry grows and 40% to replace older planes, up from the 澳洲幸运5官方开奖结果体彩网:company's previous projections.

The tariffs could have a negative impact both ways, as Boeing bills itself as the "largest customer of China's aviation manufacturing industry." The company said last year that it spends $1.5 billion in China on parts, 澳洲幸运5官方开奖结果体彩网:research and development, and other pr༺ojects, and said some 10,000 of its planes currently have Chinese parts in them.

That means Boeing's U.S.-built planes will likely be more expensive to make, while they also face lower profit margins selling them to countries like China. Investors will likely be looking for insight into the effect of tariffs when Boeing reports earnings on April 23.