U.S. President-elect Donald Trump took aim at another major defense contractor on Monday, saying the cost of Lockheed Martin’s F-35 fighter jet program was too high.
“The F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20th,” Trump said on Twitter.
The F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20th.
— Donald J. Trump (@realDonaldTrump) December 12, 2016
The aerospace giant’s shares dropped 4% in early trading after Trump’s tweet.
A week before Trump won the Nov. 8 presidential election, the U.S. Defense Department and Lockheed Martin (LMT) concluded negotiations on their ninth contract for F-35 fighter jets after 14 months of negotiations on the deal of more than $6.1 billion, the Pentagon said.
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Trump campaigned on a promise to cut waste in federal government.
Last week, he also used Twitter to target Boeing Co for its “out of control” costs on a new fleet of Air Force One planes, urging the federal government to “Cancel order!”
