FedEx says trade around the world is starting to feel the squeeze of increased tariffs.
FedEx now expects that "global trade volumes will contract this year on an annual basis for the first time since 2009," the company's head of marketing and communications Brie Carere said on Tuesday.
The interior of a Boeing 767 FedEx Corp. jet freighter is pictured at Memphis International Airport in Memphis, Tennessee.Trade around the world is starting to feel the squeeze of increased tariffs fromadministration, a factor that shipping giant FedEx noted in its latest quarterly earnings call. "As we have stressed before, a zero tariff, zero subsidy global trade environment is the most powerful economic growth engine there is. We will continue to push for policies that stimulate rather than depress global trade," Carere added.
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