Trump's move on Iran could cost jobs at Boeing

WH issues additional sanctions against Iran

Boeing’s $8 billion deal to sell 80 jets to Iran Air was already in trouble before President Trump took office. right now the item’s even more in doubt.

and also also also which could mean trouble for American factory workers whose jobs depend on which sale.

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Trump has long been harshly critical of the Iran nuclear deal which allowed the Obama administration to clear Boeing’s sale to Iran last December.

After he assumed office, he signed an immigration ban restricting people via seven Muslim-majority countries, including Iran, via entering the U.S. Then, after Iran performed a missile test, he issued a fresh round of Iranian sanctions Friday morning.

These fresh sanctions don’t specifically kill the Boeing deal, however they could make the item harder for the item to go through, should Iran retaliate and also also also cancel the deal. A similar deal for European rival Airbus, to sell 100 Airbus jets to Iran for about $10 billion could also be in jeopardy. Since the Airbus jets are made with mostly U.S. parts, which sale also needs U.S. approval.

Related: U.S. does $220 billion in trade with Muslim countries

“This kind of doesn’t end well for the jetliner deals,” said Richard Aboulafia, aviation analyst with the Teal Group.

Boeing wouldn’t comment directly on its outlook for the deal.

“We’re operating under our current…license,” said Boeing Friday. “Should we receive fresh guidance via the Treasury Department, we will act accordingly.”

The problem for Trump is usually which a hard line stance on Iran could hurt the U.S. manufacturing jobs he says are his top priority. Boeing (BA) and also also also its U.S. suppliers such as jet engine makers GE (GE) and also also also United Technologies (UTX) are major U.S. employers. Boeing said at the time the Iran deal was announced which the item might support nearly 100,000 jobs at the company and also also also its suppliers.

Boeing includes a large backlog of orders, so there won’t necessarily be 100,000 layoff notices if the deal falls through. however Boeing has been trimming jobs.

Likewise, if Trump nixes the Airbus sale, which could cause problems for the U.S. aircraft parts makers, according to Adam Pilarski, vice president with industry consulting firm Avitas.

Related: The big risk Trump poses for Boeing is usually in relations with China

“which might genuinely annoy the Europeans,” said Adam Pilarski, vice president with industry consulting firm Avitas. “and also also also which could cause problems for the U.S. because the item could move the Europeans not to rely as much on American parts.”

Aboulafia said the Trump administration doesn’t necessarily have to block these deals for them to fall through. He said Trump’s tougher stance on Iran could hurt their ability to finance an Iran purchase with western banks, since they might be reluctant to sign on to risky deals.

“If nothing else, the climate for financing jets is usually going to get worse and also also also worse, and also also also which alone could kill the deal,” he said. “which risk premium was already pretty high.” Neither Iran nor Boeing or Airbus have provided details on the financing particulars, he said.

sy88pgw (fresh York) First published February 3, 2017: 5:56 PM ET


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Trump's move on Iran could cost jobs at Boeing

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