Trump Tackles Defense Contractor Inefficiencies: Executive Order in the Works

President Donald Trump announced plans to meet with defense contractors to address production delays and cost issues. The administration aims to implement an executive order to restrict dividends, stock buybacks, and executive compensation, hoping to expedite defense projects and reduce expenses in the industry.

President Donald Trump is taking steps to address long-standing inefficiencies within the defense industry. On Monday, he revealed plans to convene with top defense contractors next week, focusing on production delays and budget overruns.

Amidst these discussions, the administration is preparing an executive order to curb corporate practices such as dividends, buybacks, and excessive executive pay, which Trump believes contribute to missed production targets.

The President has vowed to shift focus towards immediate needs like building new airplanes and ships, promising reforms for a more agile production process in the defense sector.

(With inputs from agencies.)