Trump to Cancel $1T F-35 Deal, Citing China's Fighter Race Lead and Lockheed's DEI Focus

Dec 11, 2024, 10:22 PM

President-elect Donald Trump has informed Lockheed Martin CEO Jim Taiclet of his intention to cancel the $1 trillion F-35 contract. The decision comes as Trump believes that China is surpassing the U.S. in the fighter jet race while Lockheed Martin has been focusing on diversity, equity, and inclusion (DEI) initiatives. This announcement has already led to a $4 billion drop in Lockheed Martin's stock market value within the last hour.