‘Batten down the hatches’: CEO warns Trump tariff ‘tsunami’ about to wreck economy – Raw Story
“‘What is not debatable is that our order rate is down 35 percent to 40 percent since the start of the year,’ he wrote. ‘At other companies, too, demand is crumbling. In such a situation, companies have a fiduciary duty to bring costs down, and the one surefire way to do that is layoffs. At our company, we’ve had little choice but to lay workers off at all of our plants. Shareholders aren’t suffering — not yet — because the impact is being absorbed first by the very people Trump’s policies are meant to help.’
“Shivaram said his low opinion of the tariffs is shared across the business community, but he said other CEOs are fearful that speaking out against the president would put their jobs or companies at risk.”