Anduril founder Palmer Luckey says a stalled $14 billion U.S. arms package for Taiwan is hurting his company's business on the island. Luckey made the comments in Taipei days before Chinese President Xi Jinping is due to meet Donald Trump in Washington, with Taiwan expected to be on the agenda.
Anduril founder Palmer Luckey said on Saturday that President Donald Trump's delay in approving arms sales to Taiwan is affecting the defense-tech firm's business, and that he has discussed this with Trump. Speaking to reporters at a defense forum in Taipei alongside Taiwan President Lai Ching-te, Luckey said he did not know the current status of the package.
A $14 billion package on hold
The $14 billion arms package for Taiwan has been awaiting Trump's approval for months. Trump put the deal on hold after a May summit in Beijing with Xi, describing it as a negotiating chip. According to CNBC: "It's definitely affecting the business", Luckey said, declining to detail which programs face delays.
China claims democratically governed Taiwan as its own, a claim Taipei rejects. The issue is likely to be high on Xi's agenda when he meets Trump in Washington next week.
Drones and a broader holdup
Anduril's Altius drone is already used by Taiwan, and the company has become one of Silicon Valley's most prominent defense bets as drones reshape warfare in Ukraine and the Middle East. Last year Taiwan unveiled the Barracuda-500, an autonomous, low-cost cruise missile and the island's first missile jointly produced with a U.S. company.
Luckey, whom China sanctioned in December for selling weapons to Taiwan, said the stalled package has effects beyond individual contracts. He said continued progress in other areas remains stuck as long as the deal is held up.
Trump weighs the fallout
Luckey said he has discussed Taiwan arms sales with Trump, Vice President JD Vance and Secretary of State Marco Rubio. He said the administration is weighing the economic fallout of further weapons sales, including the risk that Beijing could use its leverage over rare earths critical to U.S. tech companies.
China has repeatedly told the U.S. to stop selling weapons to Taiwan and has sanctioned numerous U.S. companies involved in such sales. The U.S. is bound by law to help Taiwan defend itself, though Trump has called that commitment into question. The White House did not immediately respond to a request for comment.
Source: CNBC
Trading involves risk.
Risk Disclaimer
