Trex CEO says he is hiring despite US-China trade spat
Trex Company, which makes manufactured wood for decks and other outdoor news, is managing around the ongoing U.S.-China trade war said CEO Jim Cline.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TREX | TREX CO. INC. | 70.34 | +1.46 | +2.12% |
“We saw the trade war coming before basically 2015. We started to modify our purchase programs. So what we’re seeing is a less contaminated stream we can buy for less money,” he told FOX Business’ Liz Claman on “The Claman Countdown.”
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President Trump threatened to impose another round of tariffs on China in September and in response, the Chinese lowered their currency and told companies to stop buying U.S. agricultural products. Tensions continued to climb after the Treasury Department declared China as a currency manipulator.
Though many analysts and economists argue that Trump’s tariffs negatively affect U.S. businesses and consumers, the Trump administration asserts that the tariffs are hitting China harder.
However, despite the concerns around the trade war, Cline said his company’s growth is thriving and he is hiring more workers.
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“We have locations in Winchester, Virginia and Fernley, Nevada. We’re hiring in both. We have been on a pretty good growth march for about five or six year’s average compound growth, about 15 percent this year. We’re still hiring and we see a great opportunity going forward,” he said.