WASHIGNTON
\nPresident Trump on Monday announced plans for a new \u201cTrump class\u201d of battleships, marking the start of an expanded naval buildup and signalling increased scrutiny of defence contractors over production delays and cost overruns. The announcement represents the latest example of the president re-branding an aspect of the federal government in his image. Trump \u2014 who has previously criticised the appearance of US warships \u2014 will be personally involved in the designs.
\nHe said the ships will weigh more than 30,000 tonnes, larger than current destroyers, and be equipped with the latest technology, including artificial intelligence and directed energy lasers.
\n\u201cWe haven\u2019t built a battleship since 1994. These cutting-edge vessels will be some of the most lethal surface warfare ships… other than our submarines,\u201d Trump said.
\nSome US officials have warned that a failure to build new battleships in recent years has handed an advantage to economic and military rival China. Trump downplayed China\u2019s influence on the decision, saying the expansion was \u201ca counter to everybody.\u201d He said the naval expansion would also be paired with renewed pressure on defence contractors to speed up production and rein in costs. He said he will meet with major defence firms next week to address delays and overruns, and to examine whether executive compensation, stock buybacks and dividends are contributing to missed production targets.
\n\u201cWe don\u2019t want to have executives making $50 million a year, issuing big dividends to everybody, and also doing buybacks\u201d while production of F-35s and other jets languishes, Trump said.
\nReuters reported last week that the administration was planning an executive order to limit dividends, buybacks and executive pay for defence contractors whose projects are over-budget and delayed.
\nTrump and the Pentagon have been complaining about the expensive, slow-moving and entrenched nature of the defence industry, promising dramatic changes that would make the production of war equipment more nimble.<\/p>\n","protected":false},"excerpt":{"rendered":"
WASHIGNTON President Trump on Monday announced plans for a new \u201cTrump class\u201d of battleships, marking the start of an expanded naval buildup and signalling increased scrutiny of defence contractors over production delays and cost overruns. The announcement represents the latest example of the president re-branding an aspect of the federal government in his image. Trump […]<\/p>\n","protected":false},"author":2,"featured_media":508137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-521720","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n