Trump says China agreed to buy 200 Boeing aircraft, shares still fall 5%
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US President Donald Trump said China has agreed to purchase 200 Boeing aircraft as part of ongoing discussions between Washington and Beijing, though Boeing shares still ended lower after the announcement.
Speaking to Fox, Trump said Boeing had initially aimed to secure an order for 150 aircraft but eventually reached a deal for 200 planes.
The comments came during Trump’s visit to China, where he was accompanied by senior American business leaders and executives.
Reports said Boeing had been negotiating a major aircraft sale with China’s three largest airlines ahead of the summit between Trump and Chinese President Xi Jinping.
Trump also said Xi assured him that China was not supplying military equipment to Iran following exchanges between the two leaders before their meeting.
Boeing has long benefited from improved trade ties between the US and China, with Chinese airlines representing one of the company’s most important international markets.
Boeing CEO Kelly Ortberg, who attended the summit, had earlier described the China visit as a significant opportunity for the company.
Analysts said a deal of this size could also benefit suppliers across the aerospace industry, including GE Aerospace and RTX Corporation through its Collins Aerospace business.
Despite expectations surrounding the announcement, Boeing shares reversed early gains and were down more than 5 per cent in trading at $228.40.
The potential order would still provide a major boost for Boeing as the company works to stabilise production and recover from recent operational and regulatory setbacks.