On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss Wall Street flat week as Commerce Secretary Howard Lutnick says the Pentagon is considering stakes in major defense contractors that he said were “basically an arm of the federal government;”a federal appeals court rejected President Trump’s use of emergency powers to impose tariffs on nations worldwide as Treasury Secretary Scott Bessent has said the ruling would be a dangerous diplomatic embarrassment and the president said returning the $96 billion raised since April would plunge the nation into depression; the administration slaps tariffs on goods of $800 or less; Trump continued his attacks on the Federal Reserve; the prospect that Washington will back Russia’s proposalChinese forces serve as peacekeepers in Ukraine; the French government teeters on the verge of collapse as Safran says it will develop a new fighter engine with India; Rheinmetall considers buying shipbuilder Lürssen; General Atomics Aeronautical Systems’ YFQ-42A — the company’s entry into the US Air Force’s competition for its first increment collaborative combat aircraft — made its successful first flight near Edwards Air Force base in California; and Spirit Airlines files for bankruptcy for a second time in a year.