Trump Suggests U.S. Could Cut Military Spending in Half Sending Defense Stocks Falling

Benzinga

Defense stocks declined sharply Thursday after former President Donald Trump suggested the U.S. could cut defense spending in half. Trump said he plans to meet with Chinese President Xi Jinping and Russian President Vladimir Putin to discuss reducing military budgets once global tensions ease. Trump's stance on defense spending has been inconsistent, as he has promoted military strength and sought budget cuts. His comments follow his enlistment of Elon Musk to identify government cost reductions and his push for a rapid resolution to the war in Ukraine.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Defense stocks declined sharply Thursday after President Donald Trump suggested the U.S. could

00:06cut defense spending in half. Trump said that he plans to meet with Chinese President Xi Jinping

00:11and Russian President Vladimir Putin to discuss reducing military budgets once global tensions

00:15ease. Trump's stance on defense spending has been inconsistent as he has both promoted military

00:20strength and sought budget cuts. His commitments follow his enlistment of Elon Musk to identify

00:26global cost reductions and push for a rapid resolution to the war in Ukraine.

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