Union Pacific CEO: there’s great opportunity in Mexico
Interviewed by Bloomberg, Union Pacific’s CEO Lance Fritz remarked there’s still great opportunity for the railroad company in Mexico, and remained confident common sense will prevail in NAFTA renegotiations.
Union Pacific Corp. has captured 70% of the U.S.-Mexico train traffic through its six border crossings. Such trade between Mexico and the U.S. now makes up 12% of the company’s revenue.
Concerning the NAFTA renegotiation, Fritz said U.S. officials are focused on fairness and bilateral deals and aren’t expected to erect significant trade barriers.
“They’re quite pragmatic and reasonable. They understand how inextricably linked our supply chains are in NAFTA and globally. They understand the value that brings to both consumers and industry and the job creation it represents for the U.S., notwithstanding there is some dislocation,” he said of Commerce Secretary Wilbur Ross and others in the Trump administration.
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