US and China Nearing Completion of Major Boeing Aircraft Deal

The United States and China are in the final stages of negotiations over a “huge” Boeing Co (NYSE: BA) aircraft order, according to U.S. Ambassador to China David Perdue. The announcement comes as both nations continue broader talks on trade and economic cooperation.

Boeing Deal Close to Finalization

Speaking at a press briefing in Beijing alongside a delegation of U.S. lawmakers, Perdue said the agreement will be wrapped up soon. However, he did not provide specifics on the size or financial terms of the deal.

“This is a huge order, and it’s very important to the president and to Boeing,” Perdue stated. “We are now in the last days or weeks of negotiations.”

High-Level Engagement Between US and China

Perdue’s remarks followed meetings between bipartisan U.S. lawmakers and Chinese officials in Beijing this week. The visit also came shortly after a phone call between President Donald Trump and Chinese President Xi Jinping, underscoring ongoing trade discussions between the two largest economies.

Boeing Eyes Big Win After Sales Drought

Bloomberg reported in August that Boeing is working toward finalizing a deal to sell China as many as 500 aircraft. Such an agreement would mark a significant breakthrough for the aerospace giant, which has struggled in recent years with weak demand and increased safety scrutiny.

In August, Boeing also secured a deal to supply at least 14 new 777-9 jets to Cathay Pacific Airways (HK: 0293). More recently, on Monday, the company announced an agreement to sell up to 22 planes to Uzbekistan Airways.