17 min ago
A British airline will announce a $10 billion purchase of Boeing planes today, Lutnick says
From CNN's David Goldman
Boeing 777 freighters and 777X are built at the Everett Production Facility on June 26, 2024 in Everett, Washington.
Jennifer Buchanan/Pool/AFP/Getty Images
Commerce Secretary Howard Lutnick in the Oval Office Thursday previewed a massive looming deal between a UK airline and Boeing.
Lutnick declined to announce which airline would purchase the planes, but he said it would be a $10 billion order.
Irish airline Ryanair said last month it would consider canceling a large order of Boeing planes if US tariffs remained in place.
Shares of Boeing rose 3% Thursday. The company has said tariffs could
hurt its already-battered business, but CEO Kelly Ortberg said last month the company has been in constant discussions with the administration in an effort to ease its trade burden.
23 min ago
Lutnick says US-UK trade deal will bring in billions for US companies
From CNN's Bryan Mena
Secretary of Commerce Howard Lutnick speaks as President Donald Trump makes a trade announcement in the Oval Office of the White House in Washington, DC, on May 8.
Jim Watson/AFP/Getty Images
US Commerce Secretary Howard Lutnick said Thursday after President Donald Trump announced his trade deal with the UK that the increased market access for US exporters will bring in billions of dollars.
“They’ve agreed to open their markets and that will add $5 billion of opportunity to American exporters,” Lutnick said from the Oval Office. “We still have a 10% tariff on, which will produce $6 billion in revenue for the United States.”
Lutnick said the deal won’t weigh on the UK economy and that the country’s workers won’t be negatively affected by the deal. He added that the deal means the UK can send 100,000 cars into the United States and “only pay a 10% tariff.”