Several CEOs folded one by one and gave in to the United States President Donald Trump's wishes, but it appears that FedEx CEO Fred Smith will not be one of them. The CEO of FedEx did not hesitate to call out Trump's decision to make the U.S. exit the Trans-Pacific Partnership trade agreement.
The Trump administration is taking a protectionist stance on trade as the new president promises to bring back jobs in the United States. Trump has been claiming that some of the trade agreements have unfair provisions for the United States.
Business Insider reported that Smith criticized Trump's order to end the TPP agreement. The FedEx CEO pointed out that signing the executive order that would stop the United States from participating in the trade agreement is detrimental to the trade industry.
Smith said the executive order could hit the trade industry of the United States, which may lead to job losses. In other words, the executive order goes against Trump's agenda of getting more jobs for American citizens.
The FedEx CEO also warned that China could take advantage of the United States' lack of participation in the agreement. China has been known to foster protectionist ideals when it comes to trading, always putting its interest first before others. Stepping into the void that the United States will leave could hurt the American and European economies.
Trump expressed resentment on the United States' trade agreements overseas. He lamented how hard it is for American companies to export their products because of the high tax imposed by other countries. He said he wants to push for a fair trade.
Jobs & Hire previously reported that Trump threatened companies that plan to expand outside of the United States that he would impose huge border tax on their products. Carmakers have started announcing their expansion plans in the United States to appease Trump.
