Beijing Confirms Boeing Aircraft Order Following Trump's China Visit—Xi Jinping Seeks To End $30 Billion In Reciprocal Tariffs With US
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China, on Wednesday, confirmed a 200-aircraft order from Boeing Co (NYSE:BA) following President Donald Trump‘s meeting with Chinese President Xi Jinping last week.
China Confirms Boeing Deal
The country will purchase the aircraft, China’s Ministry of Commerce said in a statement, confirmed by Chinese state-run news agency Xinhua. The order is the first major order Boeing has secured from the world’s second-largest aviation market in over a decade.
The statement also said that Washington has committed to providing a sufficient supply of engines and spare parts for the aircraft. Trump had earlier said that the aircraft order could rise to 750 units, with a Boeing spokesperson confirming to Benzinga that the aircraft manufacturer expects “further commitments.”
Boeing CEO Kelly Ortberg had accompanied Trump on his China trip alongside other U.S. industry and tech leaders, including Tesla Inc.‘s (NASDAQ:TSLA) Elon Musk, NVIDIA Corp (NASDAQ:NVDA) CEO Jensen Huang and more.
$30 Billion Reduction In Tariffs
On tariffs, Beijing said both governments will pursue matching reductions of tariffs on goods valued at $30 billion on each side. The commerce ministry also said both sides will work through concerns tied to export controls.
The ministry reiterated that it implements controls on exports of critical minerals, including rare earths, in accordance with laws and regulations. It also said it reviews export requests that are compliant with the laws and are intended for civilian use.
Boeing Stock
Boeing shares were down 2.22% at $215.71 during premarket trading on Wednesday, after the shares recorded a 2.54% decline on Tuesday at market close. Over the past five days, Boeing’s stock has declined close to 10%, with the stock also declining despite securing the deal from China.
Benzinga Edge Rankings show that Boeing offers satisfactory Momentum, but fails to provide a favorable price trend in the Long Term.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
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