'Boeing should default China': Trump lashes out as trade negotiations stall

President Donald Trump may not be engaging in formal talks with China to negotiate tariffs, but he was lobbing threats against the rival economic giant on social media.

China's foreign ministry denied any suggestion it was involved in active negotiations with the Trump administration over tariffs, saying there had been no progress on the matter, and hours later the U.S. president issued taunts from his Truth Social account.

"Boeing should default China for not taking the beautifully finished planes that China committed to purchase," Trump posted. "This is just a small example of what China has done to the USA, for years… And, by the way, Fentanyl continues to pour into our Country from China, through Mexico and Canada, killing hundreds of thousands of our people, and it better stop, NOW!"

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China has indicated they won't take delivery of up to 50 planes that had been set aside for the Chinese market this year, according to the company's CEO Kelly Ortberg, and analysts said the trade war would accelerate Boeing's already steep decline in that country.

Chinese airlines would also pay higher prices for maintenance of their existing Boeing fleets due to the tariffs, which would increase parts for engines made by General Electric or Pratt & Whitney, analysts said.