Washington: The Trump administration is contemplating acquiring stakes in prominent US defense companies, as disclosed by US Commerce Secretary Howard Lutnick. During an interview with CNBC on Tuesday, Lutnick mentioned that military officials are exploring the possibility of such investments, highlighting the ongoing discussions within the administration.

According to Anadolu Agency, Lutnick responded to queries about whether the Trump administration would pursue additional agreements similar to the recent Intel deal with firms engaged in business with Washington. He remarked on the intense discussions regarding defense investments, noting that companies like Lockheed, which derive substantial revenue from federal contracts, function almost as extensions of the US government.

Lutnick emphasized the economic considerations of such investments, deferring detailed comments to the Secretary and Deputy Secretary of Defense, whom he stated are actively engaged in evaluating the potential moves. The Intel deal, which granted the administration a 10% stake in the company, is perceived as a strategic effort to assert greater control over major corporations to achieve economic objectives.

President Trump lauded the Intel agreement as 'a great Deal for America,' underscoring the importance of advanced chip manufacturing to the nation's future. He expressed his commitment to pursuing similar deals, pledging continuous support for companies that engage in profitable partnerships with the US government.