Update: President's Asia Trip Includes Deal for Terex

November 10, 2017
Terex and Xuzhou Handler Special Vehicles have signed a strategic letter of intent

The U.S. Commerce Department has release a list of the 37 major deals signed between U.S. and Chinese companies during President Trump's visit.

Terex (Xuzhou Handler Terex Utilities) and Xuzhou Handler Special Vehicles Co., Ltd have signed a strategic letter of intent for Xuzhou Handler to purchase 5,000 units of insulated aerial work platforms from Terex over a five-year period. Reuters reports the deal is worth $754.73 million, however CNBC reports the purchase is worth $250 million according to the U.S.- China Business Exchange document available on the CNBC page.

The Terex equipment will be used to support the continuing improvement and ongoing adoption of live line work practices in  China's public utility sector.

The total value of the agreements between China and the U.S. on this trip is in excess of $250 billion, with Caterpillar, Boeing, and GE headlining the group.

Other agreements announced this week include a $10 billion deal between Ford Trading Company and Ford Motor China, and a $2.2 billion partnership between GM and SAIC-GM.