Boeing's (NYSE:BA) stock fell as much as 2.6% on Tuesday following a media report that China had directed its domestic airlines to stop taking delivery of new aircraft from the U.S. manufacturer. The move marks a new escalation in the ongoing trade standoff between Washington and Beijing.

The Chinese government has reportedly ordered its airlines to stop taking deliveries of jets made by Boeing amid an ongoing tariff and trade war with the U.S.

The Chinese government has told its carriers not to take delivery of Boeing aircraft as China and the United States continue their tit-for-tat tariff trade war that began in April.