After Trump-Xi summit, China agrees to buy 200 Boeing jets
What's the story
China has confirmed its decision to buy 200 Boeing jets, following a recent meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing. The deal includes supply guarantees for aircraft engine parts and components from the US, China's Commerce Ministry announced today. The two countries are also looking to extend their tariff truce and reduce tariffs on over $30 billion of goods each.
Presidential statement
Trump hails deal as major achievement of China visit
President Trump has hailed the deal as a major achievement of his visit to China. He said, "We made a lot of great trade deals, including over 200 planes for Boeing, with a promise of 750 planes, which would be by far the largest order ever." Boeing's CEO Kelly Ortberg was part of Trump's delegation during the visit.
Boeing's optimism
Boeing optimistic for more orders after initial commitment
Boeing has expressed optimism for more orders after this initial commitment of 200 aircraft. The company called Trump's trip a success, saying it achieved its major goal of reopening the China market to orders for Boeing aircraft. This agreement builds on last year's tariff truce which eased trade tensions and opened doors for smoother business between the US and China.
Extension
US and China previously extended tariff truce until November
The US and China had previously extended their tariff truce until November this year in Kuala Lumpur, Malaysia. This agreement included a reduction of US tariffs on Chinese goods and a pause to Beijing's restrictions on rare earth minerals and magnets exports.