GE CEO: WE’RE SEEING ‘END OF THE GLOBAL ELITE’

USA TODAY US Edition - - MONEY -

Gen­eral Elec­tric is in­su­lated from the prospect of in­creas­ing tar­iffs and trade ob­sta­cles “be­cause we have a su­pe­rior global foot­print,” CEO Jef­frey Im­melt told in­vestors in an an­nual let­ter. As Pres­i­dent Trump threat­ens a bor­der tax for goods built on for­eign soil and sold to Amer­i­cans, man­u­fac­tur­ers are scram­bling to limit im­pli­ca­tions for their in­dus­try. “We will ad­just to po­ten­tial changes in tax pol­icy or pro­tec­tion­ist ten­den­cies,” Im­melt said. That doesn’t mean GE is with­draw­ing sup­port for free trade. “Are we wit­ness­ing the end of glob­al­iza­tion? I don’t think so. It is the end of the ‘global elite,’ those who see the world only from fi­nan­cial cen­ters or a web­site,” he said.

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