Manufacturers’ investment decisions are affected by uncertainty: Rockwell Automation CEO
The ongoing trade dispute between the U.S. and China is causing uncertainty for manufacturers who are looking to expand their investments, according to Rockwell Automation CEO Blake Moret.
“Uncertainty impacts manufacturers in a couple of ways,” he said on “The Claman Countdown” Thursday. “One, they have concerns about their cost inputs and the accumulative impact of trade and tariff disputes….they want to make sure that they have predictable stable demand for their products.”
Last week, it was reported that more than 50 multinational corporations were rushing to pull production out of China in wake of the country’s trade war with the U.S. Some of these companies include Apple, Nintendo and Dell.
An open letter urging President Trump to stay the course on confronting China was written by former retired Navy Captain James E. Fanell, a former director of Intelligence and Information Operations for the U.S. Pacific Fleet. The letter included veterans and former U.S. military officials along with 130 signatories.
In response, the Chinese Commerce Ministry on Thursday issued their own letter, which calls for “some people in the United States” to “stop smearing and accusing the Chinese side.”
Rockwell said the letter is further contributing to the uncertainty that manufacturers loath.
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“It certainly contributes to the continuing uncertainty…manufacturers are looking for a little more stability,” Moret said.