Boeing will bring down the US economy: State Economy: Economy:

Difficulties faced by the American Boeing companymay bring down the US economy. This assumption was made by the Minister of Finance Stephen Mnuchin. According to him, the country risks losing up to 0.5 percent of GDP. The words of politics are quoted by CNBC.

“There is no doubt that the situation with Boeing will slow down GDP growth,” the minister concluded and added that the company is the largest exporter. Mnuchin said earlier that US GDP growth would be 2 to 3 percent. Washington believes that significant economic growth will be achieved through the conclusion of a trade agreement with China. It is planned that the signing of the first transaction will take place in the near future.

In December 2019, Boeing announced that it intends to cease production of the Boeing 737 MAX for an indefinite period. This happened after two plane crashes – in Indonesia in October 2018 and in Ethiopia in March 2019. In total, 346 people died in them. In January 2020, Spirit AeroSystems, one of the main suppliers of parts for Boeing 737 MAX aircraft, decided to get rid from part of its employees. About 2.8 thousand people will fall under the reduction.

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