President Donald Trump's upcoming visit to China is significant as it includes key CEOs from Boeing and Citigroup, both of whom have substantial business interests in the country.
Boeing CEO Kelly Ortberg is expected to accompany Trump, with the company anticipating a large aircraft order from China, which would mark a significant recovery for Boeing after a prolonged period without major orders from Chinese airlines. Citigroup CEO Jane Fraser is also joining the trip, reflecting renewed investor interest in China, despite the bank's limited consumer banking presence there.
The meeting between Trump and Chinese President Xi Jinping on May 14 and 15 is crucial, as any potential Boeing deal hinges on the state of U.S.-China relations. Recent reports indicated that China was nearing an agreement to order up to 500 Boeing 737 Max jets, a deal that could be announced during this visit.
However, the ongoing Iran war has complicated diplomatic relations, raising concerns about possible delays or cancellations of the trip. This visit is particularly important for Boeing, which is trying to recover from past safety and production issues, and a significant order from China would provide a much-needed boost to the company.
Meanwhile, Airbus has been securing substantial orders from Chinese airlines, further intensifying the competitive landscape for Boeing in the region