FedEx CEO lashes out against tariffs and trade war
Source: CNN
The CEO of FedEx is not happy about President Trump's latest tariffs against China and the escalating global trade war. Not one bit.
Chief executive Fred Smith told analysts on Monday that the US-China trade spat "is worrisome to everyone."
And he was just getting started.
"History is very, very clear that countries that pursue the most open markets are the ones that prosper the most and whose citizens' income increases the most," Smith said, adding that "mercantilism does not work."
Read more: https://money.cnn.com/2018/09/18/news/companies/fedex-ceo-fred-smith-trade-war-tariffs/index.html
FedEx stays loyal to the NRA as gun-control pressure builds and boycotts loom
Last week, in the wake of the shooting at a Florida high school that left 17 people dead, people on social media pressured companies that offer special deals to NRA members to cut ties with the gun-rights organization.
While companies including United, Hertz, and MetLife have done so, FedEx, which offers NRA members discounts of up to 26% on shipping packages, has not.
What a snowflake ...
htuttle
(23,738 posts)rogue emissary
(3,148 posts)Yavin4
(35,441 posts)On the first post.
Eliot Rosewater
(31,112 posts)at140
(6,110 posts)Of course Fedex is happy delivering stuff made in China to American consumers.
With tariffs, it can be competitive to make it here and that means more manufacturing jobs for middle class workers, in America.
Iliyah
(25,111 posts)They are a delivering transport company like Fedex. My question, where are they going to obtain merchandise for Christmas and the other coming up holidays.
Stores are already stocked with Halloween, Thanksgiving and Christmas decorations since the end of August.
ailsagirl
(22,897 posts)kimbutgar
(21,155 posts)You gave the money to elect an inexperienced, stupid egoistical man all because of tax cuts.
Initech
(100,079 posts)BumRushDaShow
(129,063 posts)of the tax cut for the wealthy while the thing in the WH executes plans that will essentially torpedo the very businesses that made these guys rich. Their business model has relied solely on "cheap labor" and "cheap products" and lots of both.
When the "demand" goes down because the "supply" is too expensive, then those managing the "supply" will reduce that supply so they don't have warehouses full of it not selling and they will take a loss to get rid of it.... But then it gets worse because they will not order the same supply in the future and what little they do get will be doubly expensive because of the tariffs and reduced amount available to sell. And of course companies like Fedex will lose quite a few shipping orders because companies will reduce their supply.
What they don't get is that there are few if any companies in the U.S. set up to manufacture these types of items unless SOMEONE is willing to start such a company and get it up and running (with a fair wage and safe working environment). Doing such would take years, but it needs to happen to actually fulfill this fantasy that sparked the trade war to begin with and they don't plan on doing it anytime soon because it "breaks" their business models.
Weasel words like "worrisome" indicate that they still don't get it.
UpInArms
(51,284 posts)They are the Job Creators!
🤦🏽?♀️