Brooke Sutherland, Columnist

Trump's Lockheed Cuts Need Context

Details are scant, but Lockheed has already been working to reduce the expense of its F-35 program.

January 30, 2017 at 7:10 PM UTC

Brooke Sutherland is Bloomberg News' Boston bureau chief and writes the Industrial Strength Newsletter. She was previously a Bloomberg Opinion columnist covering deals and industrial companies and an M&A reporter for Bloomberg News.

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Lockheed Martin Corp.'s cost-cut agreement with President Donald Trump may be just a drop in the bucket.

Trump on Monday said that his administration had been able to eliminate $600 million in expenses tied to Lockheed's F-35 Joint Strike Fighter. Lockheed had signaled in recent weeks that it was close to a deal with the president after he criticized the program for its "out-of-control" costs, but it had no statement at the ready, indicating Trump perhaps doesn't discriminate between praise and rants in terms of catching the business community off guard.