CSX CEO Joe Hinrichs mentioned what a change in tariffs and manufacturing may imply for the railroad line in a Thursday interview with CNBC’s Jim Cramer, explaining why he thinks his firm is well-positioned.
“From our standpoint, really, so long as it is coming to the U.S., we’ll transfer it someplace,” Hinrichs stated. “If tariffs change the commerce portfolio — so long as the economic system’s rising, we’ll be part of it.”
CSX operates totally on the East Coast, offering rail and intermodal freight transport companies. It’s current in dozens of port cities and transports home and worldwide items.
President-elect Donald Trump is anticipated to boost tariffs considerably when he takes workplace, which may change commerce patterns, particularly with China. Hinrichs stated CSX’s big selection of operations means it could possibly hold enterprise going even when the panorama adjustments. For instance, he stated that many supplies arriving at West Coast ports have to be moved east, and CSX helps transport them from cities like Chicago or Memphis.
Hinrichs additionally steered that a rise in home manufacturing can be constructive for CSX, one thing that could possibly be bolstered by the Trump administration’s tariff insurance policies. In line with Hinrichs, many companies wish to construct huge tasks within the southeast, the place he stated CSX is a dominant participant. He stated the corporate has 500 industrial growth tasks in its community, with “one other thousand websites, in our stock as potentialities.”
“If it is made in America, we’ll transfer it on rail,” he stated.
