Aerospace suppliers are grappling with higher prices for parts from President Donald Trump's tariffs.
Aerospace giant RTX said it expects a $850 million impact from tariffs, while GE estimated about $500 million.The aerospace industry, including companies that produce engines, airplanes and other products in the United States , relies on a global supply chain.
Men work with a jet engine at General Electric Celma, GE's aviation engine overhaul facility in Petropolis, Rio de Janeiro, Brazil.Neil Mitchill, chief financial officer of defense contractor and commercial aerospace supplier RTX, said on an earnings call Tuesday that the company will likely take a $850 million hit this year from tariffs, including the sweeping 10% tariffs that Trump imposed earlier this month alongside higher duties on countries like China and separate duties on imported steel and aluminum.and Airbus planes, kept its 2025 earnings outlook in place during its quarterly report Tuesday and said it would seek to save about $500 million by cutting costs and raising prices. GE Aerospace CEO Larry Culp said on Tuesday's analyst call that he recently met with Trump and discussed the U.S. aerospace sector's trade surplus. GE has a joint venture with France's Safran to make popular airplane engines.United Airlines adds Thailand, Vietnam and Australia flights in latest expansion"All we have suggested is the administration works through a myriad of issues, is they can consider the position of strength that the country enjoys as a result of this tariff-free regime," Culp said.Boeing, a major customer of both companies and the top U.S. exporter, is scheduled to report quarterly results before the market opens on Wednesday. Airlines have recently announced cuts to U.S. domestic capacity plans this year because of softer demand, but executives have emphasized it is hard to predict the direction of the economy or future trade policies."There is uncertainty," Culp said Tuesday. "None of us, I think, know for sure how this plays out."'Big Short' investor Steve Eisman on tariff turmoil: Don't be a hero Highest tariffs since the '30s to trigger recession, S&P 500 decline to 4,200-4,500, says BCA Research
Donald Trump Larry Culp Boeing Co General Electric Co Raytheon Technologies Corp Politics Airlines Travel Transportation Aerospace And Defense Industry Business Life Breaking News: Business Breaking News: Markets Markets Breaking News: Economy Economy Breaking News: Politics Donald J. Trump United Airlines Holdings Inc Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TRUMP Token Skyrockets After President Donald Trump’s EndorsementCrypto Blog
Read more »
US President Donald Trump narrows April 2 tariffsThe White House is adjusting its approach to tariffs set to take effect on April 2, likely omitting a set of industry-specific tariffs while applying reciprocal tariffs aimed at countries with significant trade ties to the United States (US), per the Wall Street Journal.
Read more »
Nvidia’s RTX 5060 Ti could be 20% faster than the RTX 4060 TiNvidia's new mid-range GPU is expected to launch this month
Read more »
A key ally in Trump's migrant crackdown is coming for a visit. What might El Salvador's Bukele get?President Donald Trump is hosting Nayib Bukele, the president of El Salvador, at the White...
Read more »
NVIDIA's GeForce RTX 5060 GPU starts at $299, RTX 5060 Ti at $379Devindra has been writing about the way technology intersects with our lives for nearly 20 years. He started the Amherst Student's first technology column, worked in IT support for many (many) years, and eventually moved to Brooklyn to cover New York's tech scene in 2009.
Read more »
Nvidia has a RTX 5060 Ti and RTX 5060 price surprise for youIt’s official: Nvidia has just announced three new GPUs, and some of them will be competing against the best graphics cards in the mainstream segment. There are also new laptops coming right up. Nvidia’s announcement tells us what to expect from the new additions to the RTX 50-series lineup.
Read more »