Signage on Boeing headquarters | Courtesy of Boeing

Boeing CEO says US must lead on trade or risk losing



Dennis Muilenburg, formerly the CEO of Boeing Defense, Space and Security, is now Boeing's COO and vice chairman. | Photo courtesy of Boeing
Dennis Muilenburg | Courtesy of Boeing

Boeing CEO Dennis Muilenburg called on President-elect Donald Trump and Congress to ensure that U.S. companies have the tools necessary to compete in a global economy, from a reformed tax code to financial support from the moribund U.S. Export-Import Bank.

For Boeing, which has its defense division headquarters in the St. Louis area and is the largest U.S. exporter, that means a reformed tax code, a fair global trade system, regulatory changes that make it easier to close foreign defense sales and re-opening the ex-im bank for business, Muilenburg said Friday in remarks to the Illinois Manufacturers’ Association.

The U.S. needs to continue to play a leading role when it comes to global trade agreements, Muilenburg said. Trump vowed on the campaign trail to withdraw from the Trans-Pacific Partnership and criticized the North American Free Trade Agreement, saying the pact with Canada and Mexico has drained jobs.

Muilenburg said Boeing had been concerned by the anti-trade rhetoric voiced by Republicans and Democrats during the recent election cycle. About 75 percent of the planemaker’s near-record order backlog is bound for overseas customers, up from 35 percent in 2000, he said. Around 90 percent of Boeing’s total workforce and 80 percent of its suppliers are U.S.-based.

Read more: Bloomberg

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