WH announces $1.2T in economic commitment with Qatar, including significant Boeing order
The White House on Wednesday announced that it has secured economic commitments worth at least $1.2 trillion from Qatar, including a historic deal for Boeing jetliners.
President Donald Trump was in Qatar on the second stop of his Middle East trip and the White House said he "signed an agreement with Qatar to generate an economic exchange worth at least $1.2 trillion." That figure includes "economic deals totaling more than $243.5 billion between the U.S. and Qatar."
The White House said that Boeing and GE Aerospace landed a deal with Qatar Airways worth $96 billion to acquire up to 210 Boeing 787 Dreamliners and 777X aircraft, which are powered by GE Aerospace engines.
That marks the largest-ever order for Boeing's widebody aircraft, as well as the largest-ever 787 order. The White House said the deal "will support 154,000 U.S. jobs annually," which would total more than 1 million jobs over the production and delivery cycle for the deal.
TRUMP SAYS US MOVING PAST ‘DAYS OF ECONOMIC MISERY’ ON MIDDLE EAST TRIP
Several other private sector deals involving Qatar were referenced in the White House's announcement.
It noted that McDermott has active energy infrastructure deals worth $8.5 billion in Qatar, while Parsons won 30 projects worth up to $97 billion for its engineering services. Additionally, Quantinuum entered into a joint venture with Al Rabban Capital to invest up to $1 billion in quantum technologies and workforce development in the U.S.
The defense partnership between the U.S. and Qatar also stands to benefit from the dealmaking push, with the White House saying the signings "mark President Trump's intent to accelerate Qatar's defense investment in the U.S.-Qatar security partnership — enhancing regional deterrence and benefitting the U.S. industrial base."
TRUMP'S MIDDLE EAST TRIP AIMS TO SEAL INVESTMENTS IN US
Raytheon, an RTX business unit, landed a $1 billion deal to provide Qatar with counter-drone capabilities, making the Gulf state the first overseas customer for Raytheon's system.
General Atomics reached a $2 billion agreement for Qatar to acquire MQ-9B "Reaper" drones.
The defense deals also included a statement of intent to potentially invest more than $38 billion to support burden-sharing at Al Udeid Air Base, a major base for the U.S. military in the region, along with other defense capabilities for air defense and maritime security.
TRUMP DEFENDS QATAR JUMBO JET OFFER AS TROUBLED BOEING FAILS TO DELIVER NEW AIR FORCE ONE FLEET
The announcement of economic commitments with Qatar follows an announcement that Saudi Arabia would invest $600 billion in the U.S.
It comes after Qatar's royal family offered the U.S. a Boeing 747-8 jumbo jet valued at $400 million to serve as a temporary Air Force One amid delays with Boeing's next-generation presidential aircraft, which is not expected to be delivered until 2029 at the earliest.
Though the move has drawn criticism over a potential quid pro quo, the White House has dismissed those concerns, noting that a legal review is underway to ensure the pending deal is compliant with the law.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Critics have also raised concerns about potential security concerns stemming from using a jet as Air Force One that was previously under the ownership of a foreign country.