Taiwan formally signed an agreement to buy 66 of the latest model F-16 jets built by Lockheed Martin Corp., a move likely to further inflame tensions between the U.S. and China.
Taiwan’s purchase of the F-16s marks the first sale of advanced fighter jets to the island since U.S. President George H.W. Bush announced approval for 150 F-16s in 1992. A $62 billion figure announced by the Pentagon on Friday is the upper limit of numerous contracts if all potential foreign customers placed their maximum desired number over the decade.
The move is likely to be denounced by Beijing, even though the U.S. first signaled its plans to approve the sale a year ago in an informal notification to U.S. Congress and it could still be years before the jets are delivered.