Stocks dropped after Donald Trump ordered that U.S. companies find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them find alternatives to their Chinese operations.Marketsread more
President Trump again rips into Federal Reserve Chairman Jerome Powell, comparing him to Chinese President Xi Jinping.Politicsread more
China says the new tariffs will begin Sept. 1 and Dec. 15. That's when President Trump's latest tariffs on Chinese goods are to take effect.Marketsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
In a series of tweets Friday, Trump called on American companies to look for "an alternative to China," singling out FedEx, UPS, Amazon and the U.S. Postal Service...Transportationread more
The Koch brothers financed one of the most influential political networks in the modern era. The sprawling political empire includes conservative and libertarian nonprofits...Politicsread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Speed is undoubtedly the new stealth and the Pentagon's top weapons supplier just got one step closer to handing hypersonic weapons to the U.S. Air Force.
Lockheed Martin secured a $928 million contract to build an undefined number of hypersonic conventional strike weapons, the Pentagon said Wednesday in a statement.
Per the multimillion-dollar contract, Lockheed will be responsible for designing, engineering, weapon integration and logistical support.
The development will take place in the northern Alabama city of Huntsville which is dubbed the "Rocket City" as it was the birthplace of America's rocket program.
A hypersonic weapon is a missile that travels at Mach 5 or higher, which is at least five times faster than the speed of sound. That means a hypersonic weapon can travel about one mile per second.
For reference, commercial airliners fly subsonically, just below Mach 1 whereas modern fighter jets can travel supersonically at Mach 2 or Mach 3.
The Pentagon statement noted that the Bethesda-based defense giant was one of three offers received for the lucrative contract.
"We are excited to get to work on the hypersonic conventional strike weapon program," John Snyder, Lockheed Martin vice president of Air Force Strategic Programs, said in an emailed statement.
What's more, Lockheed Martin is in the process of developing the SR-72, a hypersonic unmanned plane dubbed the "son of the Blackbird."
And when it comes to developing a high-speed reconnaissance aircraft, the Pentagon's top weapons supplier is playing in its home court.
In 1976, the Air Force flew Lockheed Martin's SR-71 Blackbird from New York to London in less than two hours — at speeds exceeding Mach 3, or three times the speed of sound.
The SR-72 is envisioned to operate at speeds up to Mach 6. And while the hypersonic SR-72 isn't expected to be operational until 2030, the company sees developing a platform of that magnitude as a game changer.
"This could forever change our ability to deter and respond to conflict, allowing warfighters to quickly address threats before an adversary may have time to react," Lockheed Martin CEO Marillyn Hewson said of the hypersonic plane last month.
Hewson also said the development of the aircraft, which is estimated to cost $1 billion, will change the "definition of air power by giving the U.S. significant tactical and strategic advantages."
On the heels of Hewson's comments, America's top nuclear commander described a grim scenario for U.S. forces facing off against hypersonic weapons.
"We don't have any defense that could deny the employment of such a weapon against us," Air Force Gen. John Hyten, commander of U.S. Strategic Command, told the Senate Armed Services Committee last month.
"Both Russia and China are aggressively pursuing hypersonic capabilities," Hyten added. "We've watched them test those capabilities."
And while the Pentagon seeks to catch up to America's adversaries, defense contractors will be vying for what will be several lengthy and lucrative contracts.