China has agreed to buy 200 Boeing (NYSE:BA) planes in a deal that could eventually expand to as many as 750 aircraft, President Donald Trump said on Friday, potentially marking the U.S. planemaker’s biggest breakthrough in the world’s second-largest economy in nearly a decade as trade tensions between Washington and Beijing begin to ease.
Speaking aboard Air Force One, Trump told reporters the agreement “includes approximately 200 planes and a promise of up to 750 if they do a good job,” and the jets will be powered by GE Aerospace (NYSE:GE) engines, though details on aircraft types and delivery schedules were not immediately disclosed, according to a Reuters report.
Boeing and GE Aerospace did not immediately respond to Benzinga‘s requests for comment.
Boeing Reopens Door To China
Boeing’s shares had dropped nearly 4% on Thursday after Trump told Fox News Channel that China had agreed to buy 200 jets, which was well below analysts’ expectations. They closed down about 3.8% on Friday, while GE Aerospace shares fell 3.4%.
