- The Commerce Department has revealed the 37 major deals signed between U.S. and Chinese companies during President Donald Trump's trip through Asia, totaling more than $250 billion.
- The deals coincide with President Donald Trump's visit to China, where he was accompanied by a delegation of nearly 30 CEOs from major American companies.
- "Deals can provide a solid foundation for a stronger relationship that is more free, fair, and reciprocal between the U.S. and China," said Commerce Secretary Wilbur Ross.
The Commerce Department has revealed the list of the 37 major deals signed between U.S. and Chinese companies around President Donald Trump's trip through Asia.
The dollar value of those deals is in excess of $250 billion. Catepillar, Boeing, and Goldman Sachs are just some of the notable names on the list of companies that made deals with China, the full list of which is below.
Commerce Secretary Wilbur Ross said the deals were a good example of Trump helping to build bilateral trade relationships between the two nations.
"American businesses are the most innovative in the world and, when given access, can compete with anyone," Ross said. "I believe these deals can provide a solid foundation for a stronger relationship that is more free, fair, and reciprocal between the U.S. and China."
"It was a great honor for these [deals] to be witnessed by President Trump and President Xi today," Ross added. "A special thank you to our CEO delegation for their hard work in support of this historic event."
Goldman Sachs CEO Lloyd Blankfein, Qualcomm CEO Steve Mollenkopf, Cheniere Energy CEO Jack Fusco, Air Products CEO Seifollah Ghasemi, and division heads from Boeing and General Electric were among the more than two dozen business leaders who attended.
Trade has been one of Trump's core priorities in his first year in office. He held talks with Chinese President Xi Jinping during his visit about the multibillion-dollar U.S. trade deficit with China.
According to Chinese customs data, China's trade surplus with the U.S. expanded by 12.2 percent in October from a year earlier to $26.6 billion. For the first 10 months of the year, the total surplus widened to $223 billion. China is the U.S.'s No. 3 export market, just behind Canada and Mexico.
Speaking in Beijing on Thursday, Trump laid the blame for the ballooning deficit on "past administrations for allowing this out-of-control trade deficit to take place and to grow."
The 2017 U.S. CEO Delegation to China deals:
- Air Products (APD) Air Products and Yankuang Group Co., Ltd. – $3.5 billion
- The State of Alaska, Alaska Gasline Development Corporation (AGDC), China Petrochemical Corp (Sinopec), China Investment Corporation (CIC), and Bank of China (BOC) – $43 billion.
- Archer Daniels Midland Company (ADM) and COFCO
- Bell and Reignwood signed an agreement for 60 Bell 505s, valued at $50 million.
- Boeing and China Aviation Supplies Holding Company -- $38 billion.
- Caterpillar Inc, and China Energy Investment Corp
- Cheniere Energy and China National Petroleum
- Dais Analytic Gouanrui (Beijing) Technology Co., Ltd
- Delfin Midstream and China Gas Holdings – $8 billion
- Digit group and Gateguard – $100 million
- Digit group and Foton – $310 million
- Digit Group and HeDa Group – $1.5 billion
- The Dow Chemical Company
- Dow and Mobike
- Drylet, LLC and Nanjing Hoyo Municipal Utilities Investment and Administration Group – $100 million
- GE and Juneyao Airlines – $1.4 billion
- GE and ICBC – $1.1 billion
- GE and China Datang Group – $1 billion
- Goldman Sachs China Investment Corporation ("CIC") – $5 billion
- Honeywell and Oriental Energy
- Honeywell and Spring Airlines
- I. M. Systems Group, Inc. (IMSG) and Civil Aviation Telecom Co., Ltd.
- Qualcomm and Xiaomi, Oppo and Vivo – $12 billion
- SAS and Shenzhen Zhenghong Technology Co. Ltd. – $30 million
- Stine Seed China and Beijing W. Seed – $10 million
- TEREX and Xuzhou Handler – $250 million
- Thermo Fisher Scientific, Beijing Municipal Commission of Science and Technology, Tsinghua University, Beijing Novogene Bioinformatics Technology Co., Ltd, and Innovent Biologics (Suzhou) Co., Ltd – $35 million
- U.S. Soybean Export Council (USSEC) and the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-products (CFNA) – $3.4 billion
- Viroment and Hangzhou Iron and Steel – $800 million
- Viroment and Guangye Guangdong Environmental Protection Group, Co, LTD. – $100 million
- Westinghouse Electric Company, Nuclear Power Technology Company (SNPTC) and subsidiaries, State Nuclear Power Engineering Corporation (SNPEC) and State Nuclear Power Automation & Engineering Company (SNPAS)
Non delegation deals:
- American Ethane and Nanshan Group – $25 billion
- Ford Trading Company LLC. And Ford Motor (China) Ltd. – $10 billion
- GM and SAIC-GM – $2.2 billion.
- The Montana Stockgrowers signed and Jingdong Century Trade Company (JD.com) – $200 million. Smithfield Food Inc.
- Smithfield Food Inc and Jingdong Century Trade Company (JD.com) – $1 billion.
- The state of West Virginia and Shenhua corporation – $83 billion
See a descriptions of the major deals struck in China below: