A new 737 MAX jet had to be returned from China to the U.S.
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00:00It seems President Trump's sweeping tariff reform has hit another industry, air travel.
00:05A Boeing jet set to be delivered to a Chinese airline had to reverse course and was forced
00:09back to the United States.
00:11The 737 MAX jet was already at one of Boeing's completion centers in China.
00:16A new mandate from China's government reportedly instructed airlines not to buy new planes
00:20from Boeing, and permission would be needed before accepting any planes that were previously
00:24ordered.
00:25The cause of the reversal, of course, is tariffs.
00:27China has imposed a 125% tariff on U.S. imports, including planes.
00:33According to aviation consultant IBA, a new 737 MAX is worth roughly $55 million, meaning
00:40a new delivery would run a Chinese airline more than double what the plane normally costs.
00:45However, it's not clear whether China or the United States ordered the new plane to return
00:49to Boeing's Seattle hub.
00:51That'll do it for your daily briefing.
00:52From New York City, I'm Kelsey Barbario with The Street.
00:57From New York City, I'm Kelsey Barbario with The Street.
00:58From New York City, I'm Kelsey Barbario with The Street.
00:59From New York City, I'm Kelsey Barbario with The Street.
01:00From New York City, I'm Kelsey Barbario with The Street.
01:01From New York City, I'm Kelsey Barbario with The Street.
01:02From New York City, I'm Kelsey Barbario with The Street.
01:03From New York City, I'm Kelsey Barbario with The Street.
01:04From New York City, I'm Kelsey Barbario with The Street.
01:05From New York City, I'm Kelsey Barbario with The Street.
01:06From New York City, I'm Kelsey Barbario with The Street.
01:07From New York City, I'm Kelsey Barbario with The Street.
01:08From New York City, I'm Kelsey Barbario with The Street.
01:09From New York City, I'm Kelsey Barbario with The Street.