The U.S. has lifted its export ban on American jet engine parts and technology to China, allowing GE Aerospace to resume shipments to China’s state-owned aircraft maker Comac, according to a source familiar with the matter.
The decision, along with recent easing of export controls on chip design software, points to a broader shift toward easing U.S.-China trade tensions. GE Aerospace and Boeing declined to comment, and official responses from the U.S. Commerce Department and Comac are still pending.
Reuters reporting the development.
This article was written by Eamonn Sheridan at www.forexlive.com.