Taiwan, Lockheed Martin Seal $62 Billion F-16 Fighter Jet Contract

Business Times
Aug 15, 2020
By: Jet Encila

​Lockheed Martin's F-16 deal with Taiwan will surely infuriate China. (Photo: REUTERS/Kim Kyung-Hoon/File photo)

Taiwan has formally sealed a deal to acquire 66 of the newest versions of the U.S. F-16 combat aircraft manufactured by Lockheed Martin Corp., a move that analysts say could add more fuel to frictions between China and America.

Based on reports Saturday, the Taiwan government has formally signed a contract with Lockheed Martin to procure the fighter jets, further turning up the heat on the Taiwan Straits.

The deal came only two days after China's People's Liberation Army said they would conduct a massive military exercise as a response to U.S. provocations and secessionist activities in the island state.

The contract underscores the first procurement of high-tech warplanes to Taiwan since President George Bush approved the sale of 150 of the earlier model of the aircraft in 1992. The price tag disclosd by the Pentagon is the higher limit of multiple deals if all prospective overseas buyers bid for the biggest number over the period.    [FULL  STORY]

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