Boeing (NYSE:BA) CEO Kelly Ortberg told employees that the Trump administration's new tariffs could significantly raise costs on parts imported from Canada, such as landing gear, and create broader supply chain disruptions, Bloomberg reported Thursday.
Ortberg expressed concern that tariffs could become a "continuity of supply issue," making it costly for Boeing if critical components become unavailable. A 25% increase in operating costs for aerospace firms could limit their ability to pass higher prices to airline customers, according to aerospace consultant Kevin Michaels.
Ortberg also mentioned that Boeing is collaborating with Elon Musk's Department of Government Efficiency to accelerate Air Force One deliveries for Trump.
Additionally, he emphasized the need for a more open corporate culture, urging employees to speak up and improve cross-division communication.
Boeing shares have dropped 13.5% over the past month as rising tariffs threaten raw material costs and the company's global supply chain, which includes manufacturing operations in Winnipeg.
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