Following a trip to China, the US President Donald Trump reported that China had agreed to buy 200 Boeing aircraft. This was significantly less than analysts had expected, sending Boeing shares down.
Reuters writes about this.
Details of the deal are still unknown, including when and what aircraft will be delivered. At the same time, the volume of the deal turned out to be significantly smaller than the package of about 500 aircraft that, according to Reuters sources, was discussed on the eve of Trumpʼs meeting with Chinese leader Xi Jinping.
Boeing shares fell 4.1% in trading on Thursday, May 14.
The large order for Boeing was seen as one of the summitʼs key business deals, and was also expected to extend a fragile trade truce struck last October, when Trump suspended steep tariffs on Chinese goods and China lifted restrictions on rare earth metals.
The White House has not yet commented on Wall Streetʼs reaction to Trumpʼs statement.
The talks were for 500 Boeing 737 MAX jets, and possibly dozens of more expensive wide-body jets in follow-on orders after the summit, the sources said. China is also in talks for a similar deal with Europeʼs Airbus.
- The US President Donald Trump, along with a delegation, paid an official visit to China from May 13 to 15 for the first time in 9 years — the last time he was in Beijing was in 2017.
- The White House press service has already reported that at a meeting between Trump and Chinese leader Xi Jinping, the parties agreed that the Strait of Hormuz should be opened to the passage of ships carrying energy resources. In addition, Trump stated that China would buy oil from the United States.
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