President Trump doubled as chief dealmaker on Tuesday. While hosting Qatari Emir Sheikh Tamim bin Hamad Al-Thani at the White HouseOpens a New Window., he disclosed an incoming order for BoeingOpens a New Window..
“We’re going to be signing a document today, very large transaction,” said Trump. “It’s a transaction that will be purchasing a lot of Boeing jets, that means a lot of jobs,” he added without elaborating.
Following the meeting, the White House released specifics on the transaction, which includes five Boeing 777 freighters. The value of the deal, which was first announced at the Paris Airshow, is nearly $2 billion.
Several other U.S. companies are also getting business from Qatar including, Gulfstream, owned by General Dynamics, for large-cabin aircraft. Raytheon will sell NASAM and Patriot Systems to Qatar’s Ministry of Defense, General Electric will see an order for jet engines that power 787 and 777 planes and Chevron-Phillips Chemical, a unit owned by the two companies, will work with Qatar Petroleum on development of a petrochemical plant along the U.S. Gulf Coast.
|GD||GENERAL DYNAMICS CORPORATION||180.83||-0.64||-0.35%|
|GE||GENERAL ELECTRIC COMPANY||10.25||+0.05||+0.49%|
FOX Business’ inquiries to Boeing were not returned at the time of publication.
Boeing shares got a boost on the news which helped overshadow a dismal order updateOpens a New Window.released earlier in the day.