General Electric (GE -0.3%) shares drift up to roughly breakeven from early losses after Pres. Trump said this morning that he supports the export of U.S.-made jet engines to China, in an apparent response to a report that the administration was considering blocking a GE joint venture from selling them.
“We don’t want to make it impossible to do business with us,” Trump said in a series of tweets this morning. “That will only mean that orders will go to someplace else. As an example, I want China to buy our jet engines, the best in the World.”
The tweet suggested that Trump had come down on the side of GE in a debate within his administration, where some had hoped to halt the export of jet engines being manufactured for a new Chinese-made passenger jet.
Trump’s tweets did not explicitly mention a related White House debate about limiting Chinese access to chip-making technology, but the industry seems to believe the president’s overall message that he did not want to make it “impossible to do business with us” was a sign that he would oppose new restrictions on their China sales.