Defence giant BAE Systems shrugged off US tariff fears as higher military spending looms.
The maker of fighter jets, ships and munitions said the rise in defence budgets was a ‘robust set of further opportunities’.
It said it had had a strong start to 2025 and was not afraid of Donald Trump’s tariffs.
‘The vast majority of equipment we deliver to our US customers is produced in our US operations with a largely domestic supply chain,’ said BAE. ‘We do not expect to be materially impacted.’
War in Ukraine, tensions over Taiwan and fighting between India and Pakistan have added to demand while BAE pointed to increased defence spending by European Nato members and higher military budgets in the UK, the Middle East and the Far East.
The FTSE 100 firm’s shares fell 2.3 per cent, or 41.5p, to 1729p.
Profits up: BAE which makes fighter jets, ships and munitions said the rise in defence budgets provided a ‘robust set of further opportunities across all our sectors’
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