International

Treasury Secretary Steven Mnuchin said Sunday that Boeing’s 737 Max crisis could curb U.S. economic growth in 2020 by half a point, though he expects the economy should grow by about 2.5%.

“There’s no question that the Boeing situation is going to slow down the GDP numbers,” Mnuchin said in an interview on Fox News’ “Sunday Morning Futures.” “Boeing is one of the largest exporters, and with the 737 Max, I think that could impact GDP as much as 50 basis points this year.”

Boeing this month is planning to halt production of the 737 Max, as the worldwide grounding of the planes after two fatal crashes killed 346 people. Regulators say they have no firm timeline to allow the planes to fly again, and U.S. airlines have taken the planes out of their schedules until at least April.