Trump chickens out again.

[rooster59]

Trump pledges to protect U.S. jobs during visit to Boeing plant

By Jeff Mason

 

President Donald Trump presided over the unveiling of a 787 Dreamliner and said the aerospace giant could be in for a huge order of F-18 Super Hornet fighter jets. Fred Katayama reports.

 

NORTH CHARLESTON, S.C. (Reuters) - President Donald Trump promised to boost U.S. manufacturing and punish companies for moving jobs overseas during a visit on Friday to a South Carolina Boeing Co <BA.N> plant to celebrate the unveiling of its latest Dreamliner jet.

The Republican president, who previously feuded with the plane maker over projected costs for the next version of Air Force One, gave a ringing endorsement to the company on Friday and used the event to highlight his pitch to boost homegrown job growth.

"I'm going to do everything I can to unleash the power of the American spirit and to put our great people back to work," Trump told a crowd of workers at the plant, with the presidential aircraft and the new Boeing jet behind him.

"This is our mantra: buy American, and hire American."

Trump repeated his campaign threat that any company that lays off American workers to move to another country will face a "substantial penalty" when trying to sell their products in the United States.

Trump's visit to the Boeing plant in North Charleston was a victory for Boeing, which had faced pointed tweets from Trump over the price tag to build a new Air Force One presidential aircraft fleet.

Trump took a tour of the factory along with Chief Executive Dennis Muilenburg, and declared that the company had done "an incredible job."

While Trump praised Boeing during his visit, he also signalled he would keep up pressure on defence companies to cut better deals with the U.S. government.

After delivering his remarks, Trump told reporters that the price for the Air Force One fleet is still "too high, but we're negotiating."

He also said that Boeing's competitor, Lockheed Martin<LMT.N>, would have to cut the price of its stealthy F-35 jet or his administration would consider replacing some F-35 orders with Boeing's F/A-18 Hornet jets.

"We're going to save billions and billions of dollars," Trump said. "Most important, we are going to have a great product from both Boeing and Lockheed."

On Thursday, Air Force Lieutenant General Chris Bogdan, who runs the F-35 programme for the Pentagon, said the cost of the jet could fall 16 percent to around $80 million in future purchases.

Trump and other U.S. officials have criticized the Pentagon's most expensive programme for delays and cost overruns, but the price per jet has steadily declined in recent years as production ramps up.

At the South Carolina plant, Boeing is building the 787-10, the largest of three models of its high-tech, carbon-fibre composite Dreamliner. Production of the other 787s is split with Boeing's factory in Washington state.

Boeing rolled the first 787-10 out of the factory on Thursday. It is due to enter flight testing this year and reach customers in 2018.

Boeing has been pressing to get the 330-seat $306 million plane into production because it is expected to be more profitable than the smallest version. But the company has sold only 149 of the jets, a small fraction of the 1,202 Dreamliners that have been ordered.

 

-- © Copyright Reuters 2017-02-18

[mtls2005]

(from 2014)

 

Let's lower corporate tax rates to NEGATIVE 0.4%. Very few, if any, corporations pay the 35% rate.

 

Boeing Paid No Federal Income Tax Last Year: Analysis

 

One of the largest recipients of federal government contracts paid nothing in taxes last year, according to an analysis from the Center for Effective Government, a left-leaning think tank.

 

Boeing reported an $82 million tax refund last year, but made $5.9 billion in U.S. pre-tax profits during the same period, the analysis of the company’s recent government filings found. That means Boeing paid a federal tax rate of -1.4 percent. At the same time, the company won 4.4 percent of all federal contracts last year, according to the report.

 

The company has a history of using loopholes to lower its tax bill, according to Matt Gardner, the executive director of the Institute on Taxation and Economic Policy. The report found that Boeing paid a tax rate of -0.4 percent over the past five years.

 

http://www.huffingtonpost.com/2014/02/20/boeing-tax_n_4824918.html

 

 

Boeing 787 supply chain

 

 

[craigt3365]

People are so guilable.  More jobs are lost to automation than foreign countries.  Hopefully, people will research this and find the truth.  Not just listen to Trump.

 

It's terrible to threaten business if they move jobs overseas. 

 

http://fortune.com/2016/11/08/china-automation-jobs/

 

Quote

 

Don’t Blame China For Taking U.S. Jobs

If not China, what then explains these jobs losses? It’s simple: factories don't need as many workers as they used to, because robots increasingly do the work.

Investment in automation and software has doubled the output per U.S. manufacturing worker over the past two decades. Robots are replacing workers, regardless of trade at an accelerating pace.

 

 

https://www.ft.com/content/dec677c0-b7e6-11e6-ba85-95d1533d9a62

 

Quote

 

Most US manufacturing jobs lost to technology, not trade

Increasing protectionism is unlikely to override forces of automation

 

 

 

Edited February 18, 2017 by craigt3365

[Emster23]

Didn't he bad mouth Boeing during the election? BIg order of fighter planes.... oh wonderful. Adds nothing to quality of life of average Joe, money that could be spent on useful things, like roads, etc. Think of Eisenhower quote about every dollar spent on tanks, planes etc is dollar not spent on schools, etc.

[Credo]

Boeings is and always will be reasonably safe.   The US is not going to become excessively reliant on foreign countries for something as essential as our military equipment.   There are parts made elsewhere, but I am sure there are protections built in.   

[ilostmypassword]

28 minutes ago, Credo said:

Boeings is and always will be reasonably safe.   The US is not going to become excessively reliant on foreign countries for something as essential as our military equipment.   There are parts made elsewhere, but I am sure there are protections built in.   

It's military business may be safe, but it is probably the U.S. business most exposed to loss of business in its commercial aviation division should Trump start imposing tariffs. And non defense revenue is just shy of 60% of the company's total revenue.

[elgordo38]

11 hours ago, rooster59 said:

could be in for a huge order of F-18 Super Hornet fighter jets. Fred Katayama reports.

What no bidding process?

[elgordo38]

10 hours ago, Emster23 said:

Didn't he bad mouth Boeing during the election? BIg order of fighter planes.... oh wonderful. Adds nothing to quality of life of average Joe, money that could be spent on useful things, like roads, etc. Think of Eisenhower quote about every dollar spent on tanks, planes etc is dollar not spent on schools, etc.

He always back tracks on his statements keeps people off guard. Its the old carrot and stick approach. 

[elgordo38]

11 hours ago, mtls2005 said:

(from 2014)

 

Let's lower corporate tax rates to NEGATIVE 0.4%. Very few, if any, corporations pay the 35% rate.

 

Boeing Paid No Federal Income Tax Last Year: Analysis

 

One of the largest recipients of federal government contracts paid nothing in taxes last year, according to an analysis from the Center for Effective Government, a left-leaning think tank.

 

Boeing reported an $82 million tax refund last year, but made $5.9 billion in U.S. pre-tax profits during the same period, the analysis of the company’s recent government filings found. That means Boeing paid a federal tax rate of -1.4 percent. At the same time, the company won 4.4 percent of all federal contracts last year, according to the report.

 

The company has a history of using loopholes to lower its tax bill, according to Matt Gardner, the executive director of the Institute on Taxation and Economic Policy. The report found that Boeing paid a tax rate of -0.4 percent over the past five years.

 

http://www.huffingtonpost.com/2014/02/20/boeing-tax_n_4824918.html

 

 

Boeing 787 supply chain

 

 

Good thing to know in case of a crash you sue everybody thats if you survive. 

[elgordo38]

21 hours ago, Emster23 said:

Didn't he bad mouth Boeing during the election? BIg order of fighter planes.... oh wonderful. Adds nothing to quality of life of average Joe, money that could be spent on useful things, like roads, etc. Think of Eisenhower quote about every dollar spent on tanks, planes etc is dollar not spent on schools, etc.

There you go making to much common sense again in a insensible world. 

[bangon04]

Is Trump's executive 757 getting a bit old now?  Maybe he can get a special price on a new 787 as an upgrade....