Trump claims China agreed to buy 200 Boeing jets amid unconfirmed summit deal

US President Donald Trump stated on Friday that China has agreed to purchase 200 Boeing jets, with a potential increase to 750 planes contingent on performance. Speaking to reporters aboard Air Force One, Trump described the arrangement as including approximately 200 planes and a promise of up to 750 more if the aircraft perform well. The reported deal includes aircraft powered by General Electric Aerospace engines. However, neither the Chinese government nor Boeing has issued official statements confirming the purchase agreement.

Aviation advisory firm IBA estimated the value of the 200-aircraft order at approximately $17bn to $19bn, assuming 80 percent of the mix consists of MAX jets. The estimate noted that the figure could rise to $25bn if a larger proportion, around 40 percent, comprises widebody aircraft. Industry sources indicated that Boeing was originally negotiating for at least 500 narrowbody jets tied to the Beijing summit, with dozens of widebody jets and potentially 200 more to follow at a later date.

Market reaction to the announcement was subdued, with Boeing shares falling 2.6 percent on Friday and GE Aerospace shares dropping 2 percent. This followed a 4 percent decline on Thursday after Trump initially reported the deal to Fox News Channel, a figure well below analysts’ expectations. It remains unclear how many of the 200 planes represent new business for Boeing versus aircraft already in its order backlog. Planemakers typically disclose large deals once they are formalised, and details regarding jet types and delivery timelines were not immediately available.

The announcement comes as US CEOs, including Boeing CEO Kelly Ortberg, joined Trump during his two-day summit in Beijing. The visit aims to secure trade deals in a market where Boeing was largely shut out due to previous trade tensions. For China, such an order would help secure capacity to grow its aviation market as production of its home-grown COMAC C919 falls short of ambitious targets. It would also assist Boeing in narrowing the gap with rival Airbus, which has pulled ahead in China in recent years.

Concerns about after-sales support and potential export restrictions on parts continue to weigh on buying decisions, according to Li Hanming, an independent expert on China’s aviation industry. Wendy Cutler, senior vice president of the Asia Society Policy Institute, noted that neither side agreed to extend the trade truce, which expires in five months. She suggested that without further economic deliverables, the summit may be heavy on atmospherics but light on substance. Trump indicated that Chinese President Xi Jinping may pay a return visit to Washington in September, which could serve as a focal point for further orders.