China says it will buy 200 Boeing jets, seek extension of US tariff truce
Reuters
Synopsis
China confirmed a major deal to purchase 200 Boeing aircraft. This agreement follows President Trump’s visit to China. Beijing also plans to extend its trade pact with the United States. The deal includes reciprocal tariff cuts on billions of dollars of goods. This development signals a significant step in US-China trade relations.
ReutersBEIJING, – China will buy 200 Boeing jets and seek an extension of the trade agreement with the U.S. that was reached in Kuala Lumpur last year, the Chinese Commerce Ministry said on Wednesday.
The statement marked Beijing’s first confirmation of the Boeing order.
Also Read | Trump says China may buy up to 750 Boeing planes
U.S. President Donald Trump visited China last week for a summit with President Xi Jinping, in a trip that produced a series of trade pledges including the Boeing purchase and agricultural market access.
Trump said after the Beijing summit that the Boeing purchases could rise to as many as 750 planes, adding that they would have GE Aerospace engines.
Also Read | China to purchase $17 billion worth of US agricultural products annually: White House
The U.S. will provide China with supply guarantees for aircraft engine parts and components under the Boeing deal, the Chinese ministry said.
The two sides will seek reciprocal tariff cuts on $30 billion or more of goods each, it said, adding that U.S. tariffs on China must not exceed the level set under the Kuala Lumpur arrangement.
China and the U.S. reached an agreement in Kuala Lumpur before a Trump-Xi meeting in South Korea in October that extended their tariff truce for a year.
The deal included U.S. tariff reductions on Chinese products and a pause in Beijing’s new restrictions on rare earth minerals and magnets.
