President Donald Trump announced China will purchase 200 Boeing jets during a Beijing summit. The announcement occurred on May 14th. This agreement marks the first major Chinese order of U.S. commercial aircraft in nearly a decade. Boeing CEO Kelly Ortberg joined the U.S. delegation for the high-stakes visit.
Boeing shares fell more than 4% following the announcement. The market reaction followed reports that Boeing sought an order of 500 to 600 aircraft. The desired deal included 737 MAX and wide-body jets.