Foto Hsu-Yu Cheng / Shutterstock.com
About the agreement Trump reported immediately after the meeting with the Chinese leader. According to him, it is about 200 large passenger airplanes, which will provide “a huge number of jobs” for the American economy, writes meduza with reference to FoxNews.
However, financial markets expected more. On the eve of the visit, Jefferies analysts predicted that China could place an order for about 500 Boeing jetliners – especially amid Washington’s attempts to restart economic relations with Beijing after several years of tension.
Investors’ disappointment was quickly reflected in quotations: Boeing shares lost more than 4% in trading on May 14, while at the beginning of the day they were trading up 2%.
Even such a contract remains an important breakthrough for the American concern. China has not placed any large orders with Boeing for almost ten years, gradually shifting purchases towards its European competitor Airbus. During this time, Airbus has managed to significantly strengthen its position in the Chinese market, which is considered one of the most promising in the world aviation.
On the trip, Trump was accompanied by representatives of major American corporations counting on new deals with China. The delegation included Boeing CEO Kelly Ortberg, Ilon Musk, Tim Cook, as well as the heads of Meta, Goldman Sachs and Visa.
Before the talks, Trump said U.S. businesses had come to Beijing “with respect for China” and looked forward to increased cooperation. For Boeing, the deal could be the first step toward returning to a market the company has effectively lost during years of trade conflicts and political tensions between the two countries.
