Union Pacific CEO sees growth with Mexico, Trump rhetoric aside
Union Pacific Corp. sees Mexico trade as a bright spot for its rail freight growth despite tough trade talk from President Trump, said CEO Lance Fritz. Shipments between Mexico and the U.S. have been expanding as much as 6% annually over the last six years and now make up about 12% of the railroad’s revenue, Fritz said. Union Pacific, has captured 70% of the U.S.-Mexico train traffic through its six border crossings, he said. Trump’s anti-trade comments don’t worry Union Pacific, according to Fritz, who has spoken with Commerce Secretary Wilbur Ross and others in the administration. Those officials are focused on fairness and bilateral deals and aren’t expected to erect significant trade barriers, Fritz said.