Trump Gets Boeing to Agree to Less Than 4 Billion

Left and right Trump is making good on all of his promises and he isn’t even in office yet!

According to Reuters– U.S. President-elect Donald Trump extracted a promise from Boeing Co’s chief executive on Wednesday that the cost of replacing Air Force One would not exceed $4 billion.

Trump met with Dennis Muilenburg of Boeing and Marillyn Hewson, chief executive of Lockheed Martin Corp – two defense companies he has made an example of since his Nov. 8 election, sending defense shares tumbling with his complaints about projects he said are too expensive.

“Primarily the (Lockheed Martin) F-35, we’re trying to get the cost down. It’s a program that’s very, very expensive,” Trump told reporters after meeting with the CEOs and a dozen Pentagon officials involved with defense acquisition programs who he said were “good negotiators.”

Trump, who takes office on Jan. 20, has vowed to address government procurement costs as part of his industrial policy, which also includes taking a hard line on Chinese trade practices and renegotiating multilateral trade deals.

Ny Times– Mr. Trump said he was mainly concerned about Lockheed Martin’s new F-35 fighter jet, which, at $400 billion for 2,400 jets, “is very, very expensive.” Asked if he had won any concessions in the meeting, he said, “We’re just beginning, it’s a dance.”

“We’re going to get the costs down,” he added, “and we’re going to get it done beautifully.”

Mr. Trump said he also was “looking to cut a tremendous amount of money” from a Boeing program to build new Air Force One planes that provide mobile command centers for the president.

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Boeing has received only a $170 million contract to study initial concepts. But Mr. Trump asserted in a Twitter post on Dec. 6 that the estimated costs were “out of control, more than $4 billion,” adding, “Cancel order!”

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