The head of America’s largest railroad isn’t worried about disruptive changes to trade policy from the coming presidential administration.
“I’m optimistic that they’ll get trade right from the perspective of, when you really look at how goods trade works, it’s virtually impossible to unwind what’s been created to this point,” said Lance Fritz, chairman, president and CEO at Union Pacific. He was speaking Tuesday at a Reuters Breakingviews panel on predictions for 2017.
About 12 percent of Union Pacific’s traffic is to and from Mexico, he said. That includes freighting soybeans from Missouri to processing plants in Mexico, before sending the finished product back to the United States. It makes sense financially to send the soybeans across the border because of the North American Free Trade Agreement (NAFTA).
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