Trump Blasts Raytheon Over Military Demands

U.S. President Donald Trump criticized defense contractor Raytheon for its slow response to military demands and threatened to cut government contracts if stock buybacks continued. Trump emphasized that future business with the U.S. government requires Raytheon to halt buybacks until performance improves.

On Wednesday, U.S. President Donald Trump criticized defense contractor Raytheon for failing to meet the demands of the U.S. military promptly. He warned that the company risked losing its government contracts unless it restricted stock buybacks.

"Under no circumstances will they be allowed to conduct any additional stock buybacks," Trump posted on social media, emphasizing Raytheon's substantial financial investments. He insisted on better performance from the firm before further business would be considered.

The President remarked he had been informed by the Department of War that Raytheon was the least responsive among defense contractors to the department's needs.

(With inputs from agencies.)