In Funniest Twist, Trump Now Wants to Nationalize Lockheed Martin

As the Trump administration contemplates further incursions into the private sector following its Intel deal, Commerce Secretary Howard Lutnick said the defense industry could be in the administration’s sights.

When the administration acquired a 10 percent stake in the tech company Intel last week—a move that began with the president attempting to get its CEO fired, alleging problematic China ties—Donald Trump vowed to do more “deals like that.” This week, a top Trump economic adviser said businesses beyond just the tech sector can expect such interventions going forward.

On CNBC Tuesday, Howard Lutnick defended the move, saying it’s “fair” for the U.S. government to take stake in a business if it’s “adding fundamental value” to it.

Host Andrew Ross Sorkin chimed in with a follow-up: “What about defense companies though, secretary?” he asked. “Why shouldn’t the U.S. government say, ‘You know what, we use Palantir services. We would like a piece of Palantir. We use Boeing services. We would like a piece of Boeing.’”

“There are a lot of businesses that do business with the U.S. government that benefit by doing business with the U.S. government,” Sorkin added. “Again, I guess the question is: Where’s the line?”

Lutnick replied that there is a “monstrous discussion” to be had about potentially taking stakes in defense companies. “Lockheed Martin makes 97 percent of their revenue from the U.S. government. They are basically an arm of the U.S. government,” he added.

Defense Secretary Pete Hegseth and Deputy Defense Secretary Steve Feinberg, he continued, are “thinking about” taking stakes in military contractors.