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, actually, as long as it’s coming to the U.S., we’re going to move it somewhere,” Hinrichs mentioned. “If tariffs change the trade portfolio — as long as the economy’s growing, we’ll be a part of it.”
CSX operates totally on the East Coast, offering rail and intermodal freight transport providers. It’s current in dozens of port cities and transports home and worldwide items.
President-elect Donald Trump is predicted to lift tariffs considerably when he takes workplace, which may change commerce patterns, particularly with China. Hinrichs mentioned CSX’s big selection of operations means it might preserve enterprise going even when the panorama adjustments. For instance, he mentioned that many supplies arriving at West Coast ports should be moved east, and CSX helps transport them from cities like Chicago or Memphis.
Hinrichs additionally recommended that a rise in home manufacturing could be optimistic for CSX, one thing that might be bolstered by the Trump administration’s tariff insurance policies. In response to Hinrichs, many firms wish to construct huge initiatives within the southeast, the place he mentioned CSX is a dominant participant. He mentioned the corporate has 500 industrial improvement initiatives in its community, with “another thousand sites, in our inventory as possibilities.”
“If it’s made in America, we’ll move it on rail,” he mentioned.
