Boeing crisis fears low U.S. GDP Trump: Can we deal with the crisis quickly?

U.S. President Donald Trump urged Boeing to take action as soon as possible to resolve the issue of the grounded 737 MAX aircraft, pointing to the major impact of the Boeing crisis on the U.S. economy, Chinese reported. According to reports, studies cited by Mr. Trump suggest that cutting 737 MAX could reduce U.S. gross domestic product by 0.5 percent by 2020.

Boeing crisis fears low U.S. GDP Trump: Can we deal with the crisis quickly?

“We’ve got to get the company moving fast, and I think it’s going to grow better than ever before,” Mr. Trump reportedly told Greg Smith, Boeing’s chief financial officer. “

Boeing will stop production of the 737 MAX this month, which has been grounded since March 2019 after two fatal crashes that killed 346 people.

Spirit Aero Systems, Boeing’s biggest supplier, said last week it planned to cut more than 20 percent of its workforce in Wichita, Kansas, as it grapples with uncertainty over the 737 MAX shutdown and when the existing 737 MAX will resume flights.

Boeing crisis fears low U.S. GDP Trump: Can we deal with the crisis quickly?

15, Mr. Trump said he had no doubt that David Calhoun, Boeing’s new chief executive, would turn things around.

Mr. Trump said the huge crisis at Boeing was not Mr. Calhoun’s fault. Calhoun, who has been a director of Boeing for the past 10 years, was appointed chief executive on the 13th.

“Can you deal with the Boeing crisis quickly?” Trump asked Calhoun.

U.S. Treasury Secretary Steven Mnuchin told Fox News Sunday on Tuesday that “there is no doubt that the situation at Boeing will pull down U.S. GDP data.” Boeing is one of the biggest exporters, and the Boeing 737 MAX, I think this year could have as much as 50 basis points of GDP impact. “