In a strong defense for U.S. involvement in global trade as the path to jobs and economic growth, FedEx Chairman and CEO Frederick W. Smith told the audience at the National Council on Competitiveness Forum, “Trade has made America great, and expanding trade has been a bi-partisan pursuit for over 80 years. The failure to continue to do so would be a severe mistake with enormous consequences for America and the world.”
In addressing the Trans-Pacific Partnership agreement (TPP) negotiated among the U.S. and eleven other countries, Smith said, “ We urge the Trump administration to put its stamp on a revised TPP by addressing any concerns it sees, and making any additional improvements to promote trade, rather than restrict it.”
As for the benefits of U.S. trade with Mexico and Canada, Smith advised that while the NAFTA agreement could be updated and strengthened, withdrawal from the agreement “would have massive economic repercussions.” He added, “There are myriad reasons why that would be catastrophic for the U.S. economy” due to the supply chains throughout the region.
Full text of the speech is available at policy.fedex.com.