Lutnick suggests looking at defence after Intel deal

US Commerce Secretary Howard Lutnick suggested the government is looking at the defence sector and other industries for potential stakes in companies after an unorthodox deal that saw the US obtain a 10 per cent share in chipmaker Intel Corp.

- JENNIFER A. DLOUHY

"Oh, there's a monstrous discussion about defence," Lutnick said Tuesday on CNBC when pressed on whether the administration was considering similar arrangements with companies that benefit from government policies, including in defence.

Lutnick singled out Lockheed Martin Corp, claiming the company makes much of its revenue because of the US government. "They are basically an arm of the US government," he said. "They make exquisite munitions," Lutnick said, before asking: "What's the economics of that?"