His comments came during a White House meeting with Malaysian Prime Minister Najib Razak.
"We are talking about trade, very large trade deals," Trump said. "We're working on one deal where between 10 and 20 billion dollars' worth of Boeing jets are going to be purchased. General Electric engines will be purchased."
Trump did not specify how much of that total would potentially go to Boeing or to GE.
Shares of both Boeing and GE ticked only slightly higher following the president's remarks. Boeing's stock traded about half a percent lower, while GE's stock was barely positive on Tuesday afternoon.