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House Depot co-founder Ken Langone opens up concerning the U.S. governments Intel deal on The Claman Countdown.
The Trump administration is weighing buying fairness stakes in U.S. protection contractors, Commerce Secretary Howard Lutnick mentioned on Tuesday.
Lutnick mentioned in an interview on CNBC’s “Squawk Field” that army leaders within the Trump White Home are contemplating whether or not the administration ought to purchase fairness stakes in protection firms after it acquired 10% of Intel’s inventory for $9 billion.
“Oh, there is a monstrous dialogue about protection,” Lutnick mentioned. “I imply Lockheed Martin makes 97% of their income from the U.S. authorities.”
“They’re mainly an arm of the U.S. authorities. They make beautiful munitions. I imply superb issues that may knock a missile out of the air when it is coming in direction of you,” Lutnick mentioned. “However what is the economics of that? I will depart that to my secretary of protection and the deputy secretary of protection. These guys are on it and so they’re fascinated about it.”
Lutnick additionally mentioned that “loads of speaking” must be achieved relating to how the U.S. funds its munitions acquisitions.
TRUMP DEFENDS $11B INTEL STAKE, SAYS HE WILL MAKE DEALS LIKE IT ‘ALL DAY LONG’
Commerce Secretary Howard Lutnick mentioned the Trump administration is eyeing stakes in protection contractors. (Chris J. Ratcliffe/Bloomberg through Getty Photographs / Getty Photographs)
FOX Enterprise reached out to Lockheed Martin for remark.
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