It will be 'very, very difficult' for Trump to accomplish his jobs goal, says Bosch CEOhttp://www.cnbc.com/2017/03/19/china-development-forum-bosch-ceo-conce
The chief executive of German manufacturer Bosch said the reduction of free global trade is a concern, and that it will be very difficult for President Donald Trump to recover U.S. manufacturing jobs, lost over the decades to low-cost locations.
Volkmar Denner, CEO at Bosch, told CNBC at the China Development Forum on Sunday that having free trade is beneficial to all countries and industrial players.
"I think generally it's a concern to reduce all kinds of free trade," he said, responding to a recent meeting of G-20 finance ministers, which saw the world's largest economies drop a pledge to keep global trade open.
That outcome after a two-day meeting failed to reach a compromise, indicated a victory for Trump's representative, Treasury Secretary Steve Mnuchin, and a defeat for nations like Germany who sought a strong defense for free trading principles.