Trade disruptions are putting nation's healthy economy at risk, Union Pacific's CEO says

[Omaha Steve]

Source: Omaha World Herald

By Joseph Morton

WASHINGTON — From the threat of NAFTA withdrawal to the ongoing tariff battles, trade disruptions are threatening to undermine an otherwise robust economy, the head of Union Pacific said Thursday.

“The decisions made here in Washington about trade affect my hometown of Omaha, Nebraska, and all of our citizens,” Lance Fritz said at the National Press Club. “It affects the 7,300 communities that Union Pacific serves.”

The chairman, president and CEO of the Omaha-based freight rail behemoth has been publicly and pointedly making the case this year for free trade, which is fundamental to the company’s bottom line.

About 40 percent of Union Pacific traffic originates or ends outside the United States. And the railroad handles 70 percent of the business going in and out of Mexico.

FULL story at link below photo.


Union Pacific CEO Lance Fritz speaking Thursday at the National Press Club.

JOSEPH MORTON/THE WORLD-HERALD

Read more: https://www.omaha.com/money/railroads/trade-disruptions-are-putting-nation-s-healthy-economy-at-risk/article_a6415f44-f7fd-5313-bb37-703ace78120d.html

[bucolic_frolic]

1. Trump is disrupting a free market system that needs no tweaking

You only have to mess with capitalism when times are bad, and only then if it's severe. Trump is messing with it in good times. Bizarre.

[Pluvious]

7. It's not bizarre, it's a distraction

Anusface knows the dirt they all got on him.

He needs to diminish its impact by starting fires everywhere he can.

[dalton99a]

2. Big Business should get off their collective asses and do something about him

But I doubt they're that concerned - they've got their tax cuts.

[mpcamb]

3. So, Fritz, quit talking about "trade policy", "Congress", "the US" and point your finger.

Say it. Say trump. He's the one driving the bus off the cliff.

[Wellstone ruled]

4. Not going to happen anytime soon.

UP's largest share-holder is one of Trumps big time supporter.

[mpcamb]

5. They'll get burned in the end, the spineless lot of them.

Unfortunately they'll never run out of money like the rest of us.

[Wellstone ruled]

6. That is true.

And UP will just do a BK 11 and move on burning all those suckers who selected this POS for their 401's.

Their Coal Hauling business is going away by the day. Now with china not buying Soybeans,well that hits hundreds of Train Crews . You will not see those numbers in the MSM.

[Astraea]

8. And you aren't going to do shit

You got your tax cut. That's all you care about.