Trump visits Boeing facility after 'informal' deal on new Air Force One planes

The president is also there to tout benefits of the GOP tax plan.

The president is set to tour Boeing's testing and finishing facility and afterward participate in a roundtable with local business owners and several Boeing mechanics.

The trip comes two weeks after the White House announced the president had reached an "informal deal with Boeing on a fixed-price contract for the new Air Force One Program." The White House claimed the president saved "more than $1.4 billion" in his negotiations with Boeing executives - from what it said was Boeing's $5 billion price tag - although the president had previously said the estimate for the two planes was "more than $4 billion."

A month after his election, the president threatened to cancel the order due to what he said was the excessive price tag.

The president's visit also comes following his announcement last week imposing steep tariffs on steel and aluminum imports, which has set off fears among U.S. trading partners of a potential trade war. Some economists have pointed out that Boeing could be one of many U.S. companies particularly vulnerable in the event of a trade war, because it top exporter sells 80 percent of its commercial planes abroad.

After his stop at the Boeing facility, the president will attend a joint fundraiser nearby, after spending Tuesday evening at a fundraiser in Los Angeles estimated to have raised $5 million.