U.S. defense contractor RTX, formerly known as Raytheon, has repaid Taiwan more than US$150 million after overcharging the country for Patriot missiles and radar systems. The compensation came as part of a larger investigation revealing that RTX had inflated prices on defense contracts.
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00:00U.S. arms maker RTX has reimbursed Taiwan after a bidding to overcharging it for vital
00:06defense materials.
00:07The military says over 158 million U.S. dollars have already been returned.
00:13A U.S. Department of Justice investigation found that RTX, formerly called Raytheon,
00:42had overcharged several countries for Patriot missiles and radar systems.
00:47In a settlement, RTX agreed to reimburse these countries more than one billion U.S. dollars
00:51in total.