Boeing's China Dreams Crashed at Trump-Xi Summit
Boeing's hopes of securing new jet orders at the Trump-Xi summit have been dashed, according to sources. The US planemaker had initially hoped for fresh commitments for hundreds of additional aircraft during the meeting but has shifted its focus to completing a provisional agreement reached in May.
The original deal discussed up to 500 jets, while the current agreement covers only 200 aircraft, which Boeing CEO Kelly Ortberg described as an 'initial tranche' of orders. Despite this, Boeing still stands to lose significant ground if it fails to secure a major order from China, with the country projected to need around 9,000 new aircraft by 2045.
US Trade Representative Jamieson Greer reported that roughly 140 jetliner orders from the May agreement are 'in a good state,' with another 10 being finalized. However, even this smaller commitment is now in jeopardy as negotiators prioritize extending the trade truce and addressing other pressing issues.