US, China nearing major Boeing aircraft deal
The United States and China are close to finalizing a major Boeing aircraft agreement, which some observers say could become a centerpiece of a broader trade deal.
US Ambassador to China David Perdue discussed the potential deal but did not offer details on the size of the order, News.Az reports, citing foreign media.
“This is a huge order, and it’s very important to the president. Very important for Boeing. I think it’s very important to China,” he said Tuesday.
Boeing has been working on finanzling a deal with China to sell as many as 500 aircrafts, the order has been years in the making.
On Tuesday, Reuters reported that Chinese buyers have booked at least 10 cargoes of Argentine soybeans, dealing another blow to US farmers who have been shut out of their main market and hit by low prices.
In other developments, following a Friday call between Trump and China's President Xi Jinping, Trump said that an agreement to spin off the TikTok app in the US had been reached. Trump said the two leaders plan to conduct a series of meetings in the coming months, Yahoo Finance's Ben Werschkul reported, with the first meeting at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, scheduled for Oct. 30-Nov. 1.
Trump said that Xi would reciprocate with a US visit "at an appropriate time."
In the background, the Supreme Court is reviewing a high-stakes legal challenge to President Trump's tariffs, setting up a resolution as early as this fall.
The tariffs at stake are the sweeping "reciprocal," country-specific duties Trump has outlined in various steps this year (which you can see in the graphic below). Those duties range from 10% to 50%. Trump has used a 1977 law known as "IEEPA" — the International Emergency Economic Powers Act — to justify imposing the tariffs.
The appeals court allowed the tariffs to stay in place while the case moves through the legal process.
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