Reuters: The United States and China on Wednesday agreed on $45 billion in U.S. export deals and to give U.S. companies greater access to China’s $88 billion-plus government contracts market at the start of Chinese President Hu Jintao’s four-day state visit.
White House officials said the agreements included China’s “final” approval of a $19 billion contract to buy 200 Boeing (BA.N) aircraft for delivery between 2011 and 2013.“From machinery to software, from aviation to agriculture, these deals will support some 235,000 American jobs — and that includes many manufacturing jobs,” U.S. President Barack Obama said at a joint press conference with Hu.
The announcements served to underscore the theme of economic cooperation struck by Hu and Obama. But the size of the deals will do little to dent the huge bilateral trade deficit the United States runs with China, estimated to be running in 2010 at a record of $275 billion. Read more at Reuters.….