China agreed to purchase 200 Boeing aircraft and large amounts of U.S. agricultural products and energy from the United States.
On the 14th (local time), U.S. President Donald Trump said in an exclusive interview with Fox News that "President Xi agreed to purchase U.S. soybeans, oil and liquefied natural gas (LNG)," adding, "He also agreed to buy 200 Boeing 737 aircraft." Trump also said Chinese President Xi Jinping expressed willingness to help open the Strait of Hormuz, which has been at an impasse.
President Trump said, "Today President Xi said he would order 200 jets. This is a big deal." Kelly Ortberg, Boeing chief executive officer (CEO), accompanied the trip to China. China has not signed a large-scale contract with Boeing since 2017, and European rival Airbus has significantly increased its market share. However, Wall Street analysts initially expected as many as 500 planes, far more than the actual order of 200. Because the deal size fell short of market expectations, Boeing shares fell nearly 4% that day.
China's role in easing Middle East tensions was also a central topic. President Trump said, "President Xi wants the Strait of Hormuz to be opened. He said, 'If I can help in any way, I want to help.'" He added, "He said he would not provide (Iran) with military equipment. He said it strongly." President Trump had initially drawn a line, saying Chinese involvement was unnecessary on issues such as opening the Strait of Hormuz. But as Iran refused to back down in cease-fire talks, the move is seen as a strategic decision to leverage China's influence as a fulcrum to shift the dynamics.
The meeting was the result of the two leaders' political interests aligning. Ahead of the election, President Trump secured an economic achievement for farmers and the energy industry in the form of soybean and energy exports. In contrast, President Xi is using bulk purchases as leverage to demand reciprocal concessions to protect core interests, such as a change in the U.S. position on Taiwan and easing controls on exports of advanced semiconductors.