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Updated with Boeing’s U.S. premarket share price move.
Investing.com - The U.S. and China are in the final stages of negotiations over a “huge” Boeing Co (NYSE:BA) aircraft order, U.S. ambassador to China David Perdue said on Tuesday, amid ongoing talks between the two economic giants.
Speaking at a press briefing in Beijing along with a delegation of U.S. lawmakers, Perdue said the deal could be completed soon, although he did not offer details on the size and terms of the deal.
“This is a huge order, and its very important to the president. Very important for Boeing,” Perdue said. “I think that we’re in the last days of that, weeks of that negotiation[.]”
Perdue’s comments were made at a briefing consisting mostly bipartisan U.S. lawmakers who met Chinese officials in Beijing this week. The group visited China days after a call between President Donald Trump and Chinese counterpart Xi Jinping, with trade negotiations ongoing between the two countries.
Boeing is working towards finalizing a deal to sell China as many as 500 aircraft, Bloomberg previously reported in August. Such a deal could end a major sales drought for the firm, which has been struggling with limited aircraft demand and heightened scrutiny of its aircrafts’ safety.
Boeing had in August agreed to sell at least 14 new 777-9 aircraft to Chinese carrier Cathay Pacific Airways Limited (HK:0293). On Monday, the company clinched a deal to sell up to 22 aircraft to Uzbekistan Airways.
On Tuesday, shares in Boeing pointed higher in premarket U.S. trading. The stock has risen by more than 23% so far this year.
(Scott Kanowsky contributed reporting.)