FedEx CEO lashes out against tariffs and trade war [CNN]
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Source: CNN
FedEx CEO lashes out against tariffs and trade war 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." FedEx ( FDX ) held its earnings call just as the Trump administration was announcing more tariffs on Chinese goods worth $200 billion that will take effect next week . The tariffs target a lot of networking equipment used by prominent US tech companies. Smith also praised four former heads of the Office of the United States Trade Representative by name, saying that their efforts to try to "dismantle parochial interest has been herculean" and that peop
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