Trump trade war means economic catastrophe, US CEO warns
GMM Nonstick Coatings CEO Tavin Ghandi, America’s leading nonstick coating company, told FOX Business on Monday he’s nervous about President Trump accidentally starting a trade war because the U.S. economy may not be able to absorb the costs.
“If the president unintentionally starts a trade war I think it will be a debacle economically,” Ghandi said to Stuart Varney on “Varney & Co.”
He said American companies in the cookware, bakeware and electrical appliance industries have not benefited since Trump announced the tariffs in March.
“I supply to … a lot of multi-billion dollar American corporations who source their stuff from China,” he said. “None of them are clamoring to come into America the way … Mr. Trump sort of promised.”
Instead they are looking to lower-cost countries like Indonesia, Malaysia and Vietnam, according to Ghandi.
“We are addicted to the highest possible quality and the lowest possible prices -- that’s capitalism,” he said. “And I think [Trump] takes a huge risk.”