On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss a roller coaster week for world markets as a selloff in US bonds prompted President Trump to pause for 90 days the tariffs he imposed last week; the 10 percent across the board tariffs as well as a 25 percent surcharge on steel and aluminum the president retained; China tariffs of about 150 percent and Beijing retaliation; the bond sell off as yields rose from 3.9 to 4.5 percent and what that means as Congress prepares to borrow more money as lawmakers seek to raise America’s borrowing to cover a massive tax cut package; Delta rescinded its guidance in the fact of uncertainty; Defense Secretary Pete Hegseth’s decision to cancel $5 billion in services contracts; the outlook for US services firms as the government workforce is culled; the administration’s move to halve NASA’s science budget; how US efforts to normalize relations and trade with Russia will impact aerospace markets; the British government’s decision to keep open a steel plant in Scunthorpe; Indonesia’s interest in partnering with Turkey on the Kaan fighter and a new submarine program; and Boeing NGAD investment in St Louis.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss global market reaction to President Trump’s sweeping tariffs that are being compared by economists as the largest abrupt tax hikes since the Vietnam war if not World War 2; how aerospace and defense stocks fared as the Standard & Poor’s 500 lost 10 percent of its value in two days driving markets to their worst day since 2020; despite a warning by Treasury Secretary Scott Bessent that nations not retaliate otherwise they would face higher tariffs, nations retaliated anyway including China that blocked rare earth exports to the United States; Federal Reserve Chairman Jerome Powell dryly noted that tariffs risk higher inflation and lower economic growth; despite the loss of nearly $6 trillion in market value and damage to America’s reputation as a financial safe harbor, administration officials continued to make the case that the American economy was in tough shape and in dire need of shock therapy even though US stock values hit highs in February; JPMorgan estimated a 60 percent chance of recession this year with some economists worrying about a depression; as aerospace and defense suppliers scramble to cope with Washington’s new tax, Howmet was the first major aerospace firm to declare the tariffs a force majeure event and warn customers it might not be able to deliver as a consequence; and whether defense contracts would be spared from tariffs and how programs cots could be impacted.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss Wall Street’s down week on investor concerns about inflation and declining consumer confidence putting the Standard and Poor’s 500 on track for its worst quarter since 2022; budget officials warn the US government will run out of money in August unless Congress raises the debt limit; a week after President Trump taps Boeing as the winner of the manned combat aircraft portion of the US Air Force’s Next Generation Air Dominance program, House appropriators propose cutting funding for the new program, the Collaborative Combat Aircraft, and the B-21 Raider bomber; the Washington Post reports the Trump administration is preparing to cut the federal agencies by between 8 and 50 percent as the General Services Administration targets top consulting and IT contractors; Trump imposed a 25 percent tariff on imported cars; European governments continue to step up efforts to bolster defense capabilities even as Italy emerges as a possible spoiler; an inflection point for BAE Systems; RocketLab’s Neutron launch vehicle wins a Space Force contract valued at up to $5.6 billion; air travel continues to decline; and the US Navy’s prepares to announce whether Boeing or Northrop Grumman will win its FA-XX next generation fighter contest.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss Wall Street fifth down week in a row as Congress avoided a government shutdown, but embraced a full-year continuing resolution; lawmakers work to cut taxes by more than $4 trillion as personnel cuts at the IRS raise concerns that US tax collections will decline by 10 percent; Trump administration budget cuts prompted consulting giant Accenture to issue a profit warning; European nations pledge massive defense spending increases with Germany promising to increase spending by $1 trillion to bolster capabilities; credit agencies worry whether European nations can sustain higher military spending through more debt; from the Oval Office, President Trump announced that the US Air Force picked Boeing over Lockheed Martin to develop and build the manned element of the service’s Next Generation Air Dominance aircraft dubbed the F-47; as passenger traffic declines, the British and German governments issue travel advisories to their citizens traveling to the US; a major fire London’s Heathrow Airport derailed flights worldwide; and takeaways from Bank of America’s industrials conference as well as Joanna Speed’s great Aerospace Event in LA.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss Wall Street’s fourth down week in a row as President Trump says a recession may be possible before his politics improve the economy and escalates his trade war against Europe and Canada; Congress avoids a government shutdown. but faces a full-year continuing resolution; Canada’s new prime pinister, Mark Carney, asks his defense minister to reconsider the country’s purchase of 88 F-35 Lighting II fighters; as European nations accelerate efforts to build capabilities, interest in additional US weapons abruptly wanes; Portugal reportedly decides against F-35s and Turkey opts for Eurofighters; former Airbus CEO Tom Enders urges Europe to focus on autonomous drones rather than high end platforms to quickly improve capabilities in the face of threats from east and west; and what to expect at Joanna Speed’s annual Aerospace Event in Beverly Hills March 17-18, 2025.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss Wall Street’s worst week since 2022 over tariff and inflation worries; President Trump doubled tariffs on China to 20 percent as he paused 25 percent tariffs on cars from Canada and Mexico; alarmed by Trump’s pro-Russian rhetoric and suspension of aid and intelligence sharing with Ukraine, European nations agree to surge defense spending to more than $900 billion over the coming four years; the fundamental shift in mindset as NATO members conclude that alliance may be dead as America commits superpower suicide; the Pentagon continues its budget drill to redirect 8 percent of savings annually over the coming five years as senior leaders and executives make their case for programs especially manned aircraft like the F-35 Lightning II fighter and the Next Generation Air Dominance Aircraft; the US Navy drops Lockheed Martin from the FA-XX program, tapping Boeing and Northrop Grumman to move to next phase of the effort to develop the service’s next-generation combat aircraft; Delta Airlines partners with JetZero to develop a new jetliner; and the second SpaceX Starship rocket in a row exploded enroute to orbit.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss another down week on Wall Street despite a rally on Friday as investors try to determine the global economic and market impact of President Trump’s tariffs, policies and upturning US alliances; the military services continue efforts to free funding that the administration can use on its new priorities; uncertainty on Capitol Hill as a shutdown looms without clarity on defense spending; after clashing with Ukrainian president Volodymyr Zelenskyy in the Oval Office over whether Vladimir Putin, Trump said “Zelenskyy is not ready for peace if America is involved” as officials said Washington would halt aid to Kyiv; Trump’s meetings with British Prime Minister Sir Kier Starmer and French President Emmanuel Macron; AerCap, Albany International, Embraer, RocketLab, and Rolls-Royce post earnings; Boeing demonstrates strong operational performance; and whether the Trump administration’s drive to cancel major weapons and reward unproven startups will impact heritage firms and reshape the US defense industrial base.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss another tough week on Wall Street as investors grapple with President Trump-induced economic uncertainty over tariffs and inflation; worries about of a protracted continuing resolution, government shutdown or a debt default; the Pentagon drive to redirect 6-8 percent a year of funding over five years to new priorities; the firing of top including Joint Chiefs Chairman Gen. CQ Brown, Chief of Naval Operations Adm. Lisa Franchetti and Vice Air Force Chief Gen. Jim Slife are fired; DoD’s sacking of more than 5,000 workers; allies’ view of Washington after America’s rapid betrayal of Ukraine, partnership with Russia, and hardy criticism of Europe that have driven nations to bolster capabilities; Ukrainian President Volodymyr Zelenskyy’s offer to resign in exchange for peace and Ukraine’s NATO membership as Kyiv prepares to grant half of its rare earth deposits to Washington; Airbus and BAE Systems results; Jeff Shockey’s abrupt departure from RTX to joining Boeing to run the beleaguered giant’s government operations; the fire that gutted leading aerospace fasteners maker SPS Technologies; and Trump’s interest in modifying a Qatari 747-8 as the next Air Force one until his real Air Force ones are ready.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss an up market despite tariff threats and rising inflation that will forestall more interest rate cuts; President Trump and his team sent shock waves across Europe after announcing direct talks with Russia to end the Ukraine war without European or Ukrainian participation, promising to arm Kyiv in exchange for half its rare earth mineral deposits, rejecting AI cooperation with allies, and working to normalize hard-right parties; whether Europe can step up as quickly as needed to both support Ukraine and address its own weapons needs; Trump says he’ll strike a deal with China and Russia to halve US defense spending as Congress works to increase spending by $100 billion or more dollars over the coming years; Defense Secretary Pete Hegseth says he’ll shift 8 percent of Pentagon spending to new priorities as he issued his 2026 budget guidance to the military services with savings to be found in “low impact, wasteful, DEI and climate programs,” anything related to the border is off limits as are nuclear attack submarines, large and small unmanned aircraft including the Collaborative Combat Aircraft, but manned planes like F-35 Lightning II fighters, aircraft carriers and even the Future Long-Range Assault Aircraft could be targeted; US arms exports hit a record high, but as Hegseth pledges to reform the Foreign Military Sales system to foster more deals, some question whether allies who worry that Washington won’t back them might not keep buying; the administration tells US firms they won’t be punished if they bribe foreign officials; and what to expect as Airbus — and other European firms — report earnings next week.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss Wall Street’s down week as investors worried about tariffs and inflation; Babcock, Bombardier, HII, Kongsberg, Palantir, Saab and Transdigm either report or prereport earnings; Boeing increased delivery of 737 Max series jetliners to 40 a month from 35 a month last year as Airbus delayed proposal on hydrogen powered aircraft; under pressure from investors Honeywell will break up into three parts as did GE, but investors punished the conglomerate’s stock; Triumph Group will be acquired by Warburg Pincus and Berkshire Partners in a $3 billion deal; commercial passenger and cargo traffic are both up 10 and 11 percent respectively year over year; the US Marine Corps issued its long-range aviation plan that includes increasing orders of carrier-capable C-model F-35 Lighting II stealth fighters.