CSX CEO Joe Hinrichs mentioned what a change in tariffs and manufacturing would possibly 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 stated. “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 boost tariffs considerably when he takes workplace, which may change commerce patterns, particularly with China. Hinrichs stated CSX’s wide selection of operations means it might maintain enterprise going even when the panorama modifications. For instance, he stated that many supplies arriving at West Coast ports have to be moved east, and CSX helps transport them from cities like Chicago or Memphis.
Hinrichs additionally recommended that a rise in home manufacturing can be optimistic for CSX, one thing that may very well be bolstered by the Trump administration’s tariff insurance policies. Based on Hinrichs, many companies wish to construct massive initiatives within the southeast, the place he stated CSX is a dominant participant. He stated the corporate has 500 industrial growth 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 stated.
