U.S. President Donald Trump said on Wednesday he would not permit dividends or stock buybacks for defence companies until they fix problems with the production of military equipment.
“Defence Companies are not producing our Great Military Equipment rapidly enough and, once produced, not maintaining it properly or quickly,” Trump said in a post on Truth Social.
Trump also called executive pay packages in the defence industry “exorbitant and unjustifiable.”
“From this moment forward, these Executives must build NEW and MODERN Production Plants, both for delivering and maintaining this important Equipment, and for building the latest Models of future Military Equipment,” he said, without naming any specific companies or executives.
Trump and the Pentagon have been complaining about the expensive, slow-moving and entrenched nature of the defence industry, promising dramatic changes that would make the production of war equipment more nimble.
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