During President Trump’s visit to China this week, news of $250 B in US – China deals was announced.
Everyone’s curious as to what that entails. How will American manufacturers benefit?
The White House has unveiled a slew of agreements with China as President Donald Trump seeks to address an imbalance in trade. While Commerce Secretary Wilbur Ross boasted a total of $250 billion in business deals, it’s unclear how one gets to that figure. Many of them weren’t broken out into separate valuations, while a large number were in the form of nonbinding memoranda of understanding or involved agreements with existing Chinese partners.
For those keeping score, the energy and transportation sectors appear to be winners. One of the biggest announcements is an agreement by companies including China Petrochemical Corp. to help develop a $43 billion liquefied natural gas project in Alaska. Boeing Co. snagged an aircraft order valued at some $37 billion — although it isn’t immediately clear how much of that is new. Still, the wave of deals signaled an increase in trade for products from helicopters to beef.