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Investing.com -- Shares of Boeing (NYSE: NYSE:BA) climbed 3% following news that the United Kingdom (TADAWUL:4280) is set to announce a $10 billion purchase of Boeing planes. The deal comes amid a broader trade agreement between the US and the UK, which is expected to enhance market access for US exports and create jobs in both countries.
The stock’s upward movement reflects investor optimism after US Commerce Secretary Lutnick confirmed the significant order from the UK. Lutnick’s announcement was part of a series of statements regarding a new trade deal that aims to reduce non-tariff barriers for US goods and fast-track American products through the UK customs process. President Trump hailed the agreement as a "great deal" that would lead to increased cooperation on various fronts, including steel and technology.
Further details of the trade agreement indicate that the UK will open markets to US ethanol, beef, machinery, and agriculture products, with a quota for 10% auto tariffs set at 100,000 cars. Both US President Trump and UK Prime Minister Starmer have emphasized the importance of the deal in boosting trade and protecting as well as creating jobs in their respective countries.
The aerospace giant’s stock movement comes on a day when President Trump announced a concluded rare earth deal with Ukraine and plans for multiple trade meetings with other countries. The UK’s commitment to purchasing Boeing planes is part of a broader strategy to enhance bilateral trade relations with the US, which both leaders believe will serve as a fantastic platform for growth in sectors such as autos, steel, and technology.