Trump Targets Defense Industry Over Military Equipment Delays

U.S. President Donald Trump criticized defense companies for slow and inadequate military equipment production. He vowed not to allow dividends or buybacks until they fix these issues, and called for revamped executive pay packages. Trump insists on new production plants to enhance efficiency and modernization.

In a bold move on Wednesday, U.S. President Donald Trump declared that defense companies should not grant dividends or engage in stock buybacks until they resolve the inefficiencies in military equipment production. This announcement highlights the ongoing struggles in the defense sector and the urgency for reform.

Trump lashed out at defense firms through a post on Truth Social, criticizing their slow production and poor maintenance of military gear. He described executive pay scales as "exorbitant and unjustifiable," urging leaders to re-evaluate compensation structures in the industry.

In his statement, Trump called for the construction of modern production facilities to expedite the creation and upkeep of military hardware. He emphasized the need for immediate action, stating that no executive should earn over $5 million annually until these changes are implemented, aiming for a more agile defense sector.

(With inputs from agencies.)