FedEx CFO: Trade helps everybody

MEMPHIS, TN (WMC) - FedEx has consistently been an opponent of President Donald Trump's trade policies.

One obvious reason? FedEx produces more revenue offshore than it does in the United States.

FedEx's top brass, Fred Smith and Dave Bronzcak, have been lobbying the Trump administration to re-think their policies.

Alan Graf, FedEx's chief financial officer, told WMC Action News 5's Joe Birch that free trade means you pay less for products at stores like Walmart and Costco.

"There are no clothes made in the U.S. anymore," Graf said. "So, we have to have trade. We still trade in oil. Our soybean farmers sell soybeans all over the world, and China is one of the biggest importers. So, trade helps everybody."

As for U.S. jobs moving overseas to lower labor costs, Graf said the U.S. needs to do a better job of retraining Americans for new lines of work when that happens.

Copyright 2017 WMC Action News 5. All rights reserved.