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United Technologies CEO: Free trade still essential to the growth of the country

United Technologies CEO Greg Hayes told Jim Cramer on Monday that he didn't make a deal with President-elect Donald Trump because he had shareholders in mind — he did it for all stakeholders.

"I would tell you that the genie of globalization is not going back in the bottle. Free trade is still essential to the growth of this country," Hayes told the "Mad Money" host.

Stakeholders, he said, include the community, employees and share owners.





Chairman and CEO of United Technologies Corporation Gregory Hayes
Jim Young | Reuters
Chairman and CEO of United Technologies Corporation Gregory Hayes

The United States, he said, was founded on the principles of immigration and free trade. According to Hayes, this is what made America great over time — the ability to develop and innovate in the U.S. and then sell products all over the globe.

United Technologies' furnace and air conditioner maker Carrier was of particular interest to President-elect Donald Trump on the campaign trail, because of its plans to shutter two Indiana plants and move production to an existing facility in Mexico.

Last week Trump visited the Carrier plant after announcing a deal for United Technologies to receive $7 million in tax credits from the state of Indiana. Carrier agreed to save approximately 1,000 jobs and invest about $16 million in its Indiana facilities.

Programming note: The full interview with United Technologies CEO Greg Hayes will air on "Mad Money" on Monday at 6 p EST.


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