Harvard row deepens as US president issues tax threat

Trump claims China ‘reneged’ on Boeing deal
As we previously reported, shares in Boeing have fallen after a Bloomberg report said China had ordered airlines not to take further deliveries of the US company’s jets.

Trump has now made a new statement on social media claiming that China had gone back on a major Boeing deal, without providing details on the pact he was referring to.

“Interestingly, they just reneged on the big Boeing deal, saying that they will ‘not take possession’ of fully committed to aircraft,” said Trump, referring to China.

He also accused China of failing to fully fulfil an earlier trade deal, in an apparent reference to an agreement made during his first term. Trump claimed China bought only “a portion of what they agreed to buy”.
Which US companies could be hit the hardest during trade war?
From Apple to Nvidia, US tech companies have received a temporary exemption from Trump’s sky-high tariffs.

For other businesses, however, the damage imposed by existing levies on Chinese goods may prove fatal.

While Trump stepped back from the edge for most countries – announcing a 90-day pause on the bulk of his “reciprocal” tariffs on Wednesday – he doubled down on China, eventually increasing import taxes on its goods to 145 percent.

Trump has pitched his protectionist agenda as essential for reviving US industry. However, many US firms have grown used to cheap imports from China. For many of them, prices will rise and profits will fall.