Trump will ‘work it out’ with Boeing, sees markets going up

Boeing says it made no money making the last set of Air Force One jets and does not expect to make money on this order, as it is more a matter of prestige.

“I think that’s a better way of solving the problems than getting into a trade war with a 35 percent tariff”, House Majority Leader Kevin McCarthy said Monday, according to the AP.

“Boeing stock went way down because of 787 – so I just bought stock in Boeing – great company!”

Mattis’ selection was being formally announced Tuesday, and Mattis will appear with Trump at the evening event in Fayetteville, Vice President-elect Mike Pence said on MSNBC’s “Morning Joe”.

The U.S. government’s plan to replace Air Force One actually involves two different planes which would serve future presidents for years to come. Trump cited “out of control” costs of more than $4 billion in a tweet that ended with “Cancel order!” The President-elect woke up this morning and decided that Boeing is a loser, so the people who are invested in Boeing either through stocks, or retirement funds lose money.

The Air Force has allocated $2.9 billion through 2021 for two planes, including about $93 million already spent.

US presidents have used Boeing planes since 1943, according to the company’s website.

“The chilling effect on industry is huge, if you are a contractor”, said Franklin Turner, a partner specializing in government contracts at law firm McCarter & English.

The Air Force says it is still defining what it wants the planes to do and how much it’s willing to pay.

In a statement, Boeing said it looks forward to working with the Air Force “to deliver the best planes for the president at the best value for the American taxpayer”.

But in the short term, his comments on Boeing put defense contractors on notice. A team of engineers and aircraft machinists would then add state of the art communications, missile avoidance systems, inflight refueling, VIP interior and protections from the electromagnetic pulse of a nuclear blast. The company announced previous year that it would open a factory in China to do final assembly work on certain types of planes ordered by Chinese customers, The Wall Street Journal reported. Capable of Mach 0.855, according to Boeing, the 747-8 is the fastest commercial jet in the world.

He has criticized “corporate welfare” such as the Export-Import Bank backing that supports many Boeing jet sales to foreign airlines. Carson has been coy about joining the new administration, saying shortly after Trump’s election victory that he wasn’t certain he’d fit into a Cabinet-style role in a job like Health and Human Services secretary.

Previous reports indicated that Trump held shares of some of the major United States banks and various oil companies, which raised ethical questions for the president-elect.

The executive director of SPEEA, the union which represents Boeing engineers, tweeted this in response.

“The president-elect sold all his stock back in June”, Miller said.