New: A daily newsletter defining what matters in business and markets

Stories

Trump orders 10% cut in F-35 price

Rick Bowmer / AP

The president-elect has told Lockheed Martin the $380 billion fighter-jet program must shrink, Bloomberg reports.

Trump has been aggressive in pushing defense contractors to cut cost. On Tuesday, he met with Boeing Chief Executive Dennis Muilenburg to keep pushing for a lower-cost Air Force One replacement.Also worth noting: Trump has asked Boeing to price out a possible substitute for the F-35, though that seems unlikely. Still, it shows extraordinary market intervention before even taking office.

More stories loading.