Eager to show he can narrow the trade gap with China and create jobs at home, U.S. President Donald Trump on Thursday touted an order for 300 Boeing Co. planes. Yet the bulk of the deal announced in Beijing was old news.
The order, with a list value of $37 billion before customary discounts, consists mostly of previous agreements, officials with knowledge of the matter said. The pact is largely for jets that have been parts of deals since 2013, said one of the people, who asked not to be named because he wasn't authorized to speak to the media.
It "would have been surprising if something was not announced," said Will Horton, a Hong Kong-based analyst at CAPA Centre for Aviation. "Three hundred aircraft for China is supermarket shopping, not Costco stockpiling. There will need to be more orders soon."