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

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.