- China agreed to order 200 Boeing aircraft, exceeding initial talks of 150 planes
- Trump announced the deal during his visit to China with US business leaders
- Chinese President Xi assured Trump China is not supplying military equipment to Iran
Donald Trump said China has agreed to order 200 Boeing aircraft as part of broader discussions between Washington and Beijing, although shares of Boeing continued to trade lower despite the announcement.
Speaking to Fox, Trump said Boeing initially sought an order for 150 aircraft but ultimately secured a deal for 200 “big ones.”
“Boeing wanted 150, they got 200 big ones,” Trump said, according to Fox.
The comments came amid reports that Boeing had been negotiating a major aircraft sale with China's three largest airlines ahead of Trump's visit to China alongside a delegation of prominent US business leaders and CEOs.
Trump also said Chinese President Xi Jinping assured him that China was not supplying military equipment to Iran following an exchange of letters between the two leaders before their summit discussions.
ALSO READ: Trump, Xi Agree Iran 'Can Never Have Nuclear Weapon', 'Can't Control Hormuz', Says White House
Boeing has historically been one of the biggest corporate beneficiaries of improving trade relations between the US and China, with Chinese airlines representing a critical international market for commercial aircraft sales.
The company's Chief Executive Officer Kelly Ortberg, who attended the summit, had earlier described Trump's China visit as a “meaningful opportunity” for the aerospace manufacturer.
An order of this scale could also benefit several companies across the broader aerospace supply chain. Analysts noted that Boeing aircraft purchases typically drive demand for engines manufactured by GE Aerospace as well as equipment supplied by RTX Corporation through its Collins Aerospace business.
Despite the announcement, Boeing shares failed to sustain gains. The stock had risen 1.2% in premarket trading expecting the news but later turned sharply lower, trading down 5.07% at $228.40.
A large Chinese aircraft order would nevertheless mark a significant boost for Boeing at a time when the company has been working to stabilise production, improve deliveries and rebuild momentum following years of operational and regulatory challenges.
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