Qatar signed an agreement Wednesday to purchase 160 jets from US manufacturer Boeing for Qatar Airways.
The agreement was signed by both President Donald Trump and Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani during Trump’s visit to the Gulf Arab country.
Trump said the deal was worth $200 billion and included 160 jets.
“So it’s over $200 billion, but 160 in terms of the Jets; that’s fantastic,” Trump said.
“So that’s a record, Kelly, then congratulations to Boeing,” he added, directing his comments to Boeing CEO Kelly Ortberg, who was in the room.
Boeing could certainly use the help: orders last year effectively ground to a halt after a door plug blew off of an Alaska Airlines 737 Max at the beginning of 2024, leaving a gaping hole in the side of the plane. Even with a rebound in orders toward the end of 2024, Boeing’s gross orders were just 569 for last year, down a stunning 60% from 2023.
A massive strike in the fall also negatively impacted Boeing. About 33,000 machinists hit the picket lines in September, and Boeing didn’t restart production until early December. That sank Boeing’s deliveries to 348 planes last year, down 34% from 2023.
So Trump’s tariffs served as a gut-punch to a company already on the ropes. Boeing is America’s top exporter, and tariffs threaten to make jets millions of dollars more expensive, particularly if foreign countries make good on their threats to retaliate with their tariffs. Trump’s “Liberation Day” tariffs could also jack up the cost of building planes because Boeing sources parts and supplies from overseas.
The Trump administration seeks Boeing order commitments as part of its trade negotiating strategy. Last week, Commerce Secretary Howard Lutnick said in the Oval Office that, as part of a larger agreement on a trade framework, a British airline has agreed to purchase $10 billion worth of Boeing jets. Reuters later reported that the airline was IAG and would order around 30 of the 787 widebody jets.
Boeing’s stock rose 1.7% on Wednesday. Although investors are enthused, they’re also aware that order commitments aren’t final, and airlines have been known to cancel orders they’ve publicly announced at times.
Other agreements signed in Qatar: Defense Secretary Pete Hegseth also signed agreements regarding defense, including a statement of intent on defense cooperation between the State of Qatar and the United States. Hegseth also signed offer and acceptance letters for MQ 9B aircrafts and FS-LIDS. Trump signed a joint declaration of cooperation between the State of Qatar and the United States of America.
