Trump Signs Historic Agreement With Qatar That Will Generate Economic Exchange Worth $1.2T, Says White House

The White House said on Wednesday that President Donald Trump has signed a historic agreement with Qatar that will generate an economic exchange worth at least $1.2 trillion.

Trump also announced economic deals worth over $243.5 billion between the U.S. and Qatar, including a historic sale of Boeing (BA) aircraft and GE Aerospace engines to Qatar Airways.  

After the U.S. President announced the Boeing deal, the White House elaborated that Boeing and GE Aerospace (GE) secured a landmark order from Qatar Airways – a $96 billion agreement to acquire up to 210 American-made Boeing 787 Dreamliner and 777X aircraft powered by GE Aerospace engines.

“This is Boeing’s largest-ever wide-body order and largest-ever 787 order. This historic agreement will support 154,000 U.S. jobs annually, totaling over one million jobs in the United States during the course of production and delivery of this deal,” the White House said.

At the same time, Parsons Corporation (PSN) won 30 projects worth up to $97 billion, while Quantinuum finalized a joint venture (JV) agreement with the prominent Qatari company Al Rabban Capital. The White House said Qatar will invest up to $1 billion in state-of-the-art quantum technologies and workforce development provided by the JV.

Meanwhile, Raytheon, an RTX (RTX) business, secured a $1 billion agreement under which Qatar will acquire counter-drone capabilities. The deal established Qatar as the first international customer for Raytheon’s Fixed Site – Low, Slow, Small Unmanned Aerial System Integrated Defeat System (FS-LIDS), designed to counter unmanned aircraft.

General Atomics secured an approximately $2 billion agreement for Qatar to acquire the MQ-9B remotely piloted aircraft system.

Wednesday’s announcement comes after the U.S. and Saudi Arabia agreed on an investment pact worth $600 billion.

U.S. benchmark indices traded mixed following the announcement. The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, traded 0.08% lower on Wednesday, while the Invesco QQQ Trust, Series 1 (QQQ), which tracks the Nasdaq Composite, was up 0.23%.

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