FedEx CEO Fred Smith has issued a stern warning to President-Elect Donald Trump on the impact that his trade policies could have on tens of thousands of jobs nationwide.
During a speech in Washington D.C. on Friday, Smith said that pulling out of NAFTA would be a disaster for the U.S. economy and could be a threat to the 30,000 FedEx jobs in Memphis and the 450,000 FedEx jobs worldwide.
Smith’s speech focused on the importance of global trade for the Memphis community and for the U.S. economy: “The largest clearance port of entry in the United States of America is at the Memphis airport, where our superhub is located. We are passionate about supporting trade.”
Said Smith, “Trade has made America great and expanding trade has been a bipartisan 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.”
Smith warned that withdrawal from NAFTA would cause a massive and costly disruption to the supply chain of thousands of U.S. companies. He also pointed out that there is no guarantee that pulling out of NAFTA would mean that production in Mexico would return to the U.S.