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Mar 20, 2026 8:00 AM

Trump Says Lockheed Martin, Raytheon Are Building Like 'Never Seen Before,' Defends $200 Billion Pentagon Request

President Donald Trump defended the proposed increase in the defense budget on Thursday, but refrained from discussing the possible deployment of U.S. troops.

On the sidelines of a bilateral meeting with Japanese Prime Minister Sanae Takaichi, Trump gave an ambiguous response when asked about the Pentagon’s reported request for a $200 billion budget increase, stating, “We’re asking for a lot of reasons.”

The president said that U.S. ammunition stockpiles were depleted by extensive aid to Ukraine, accusing former President Joe Biden of providing $350 billion in cash and military support without replenishing supplies.

He went on to emphasize that the U.S. needs “vast amounts of ammunition” and that defense firms like Lockheed Martin (NYSE:LMT) and Raytheon, a unit of RTX Corporation (NYSE:RTX), are “building at a level they’ve never seen before.”

Trump said Raytheon is building four factories and Lockheed Martin five to six, after pressure from his administration, adding that companies are no longer allowed to prioritize massive stock buybacks.