The full consequences of the Donald Trump administration’s trade offensive have yet to be tallied, but one thing is for sure: In US aerospace giant Boeing’s high-stakes competition with Europe’s Airbus for China’s market, the tariffs aren’t helping.
Chinese President Xi Jinping could very well put an exclamation point on that sentence, if Airbus closes an US$18 billion deal with China in the coming weeks, as looks increasingly likely, according to a report on Wednesday from Bloomberg.
The European aircraft manufacturer has reportedly sent its chief executive officer, Tom Enders, and commercial aircraft president, Guillaume Faury, to China to complete the deal.
China’s aviation regulator said on Wednesday that it had met with Faury, but did not provide any further details.
Shares of Airbus rose more than 3% after the news.
Xi is expected to tout high-profile deals at the China International Import Expo in Shanghai, which begins on November 5, and may use the opportunity to demonstrate Boeing’s missed opportunity by announcing a big deal with its European competitor.
China’s aviation market is projected to become the world’s largest within the next 10 years.
"an explanation point"??? AT Staff, Wake Up! I believe you meant "an exclamation point" do you?
November 5 is the day before US midterm election, probably not enough time to spread the news among the poorly-informed Trumpee supporters. It would be better to announce this deal the week before for better effect.
Trumpees dont cave in like Obamas! The amount is just a scare tactic. Wait till the signature is on the dotted line then we know.
When market is plunged and going furthermore down how you are expecting please?