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General Electric CEO says we don’t need Washington to be global — we are global

GE CEO Jeff Immelt: I like what Trump is doing so far

General Electric CEO Jeff Immelt says his company has been navigating the world on its own, and is happy to continue doing that without help from Washington.

"We don't have to go through Washington on our way to be global. We are global. We've got people all over the world," Immelt told "Mad Money" host Jim Cramer on Wednesday.

From the perspective of an investor, Immelt said it is necessary for GE to be a good American company, but to also be able to do business in Saudi Arabia, China and Brazil. While he wants President Trump to be able to have impactful negotiations and relationships around the world, but considers it the responsibility of GE to do that on its own.

"We don't really need trade deals to be able to be effective. We can kind of navigate the world on our own and I am perfectly comfortable doing that," Immelt said.

Jeff Immelt CEO of GE featured on Mad Money with Jim Cramer
Ashlee Espinal | CNBC

Immelt said he likes what Trump has done so far in his first few weeks of presidency and is optimistic surrounding his plans for infrastructure, tax reform and regulatory reform.

When GE reported on Jan. 20, it posted in-line earnings with slightly weaker-than-expected revenue. With the stock down 6 percent for the year, Immelt confirmed that the biggest impact has been oil and gas to the company.

"If you look at last year in its totality, really the biggest drain on the company was oil and gas by far. Oil and gas down 35 percent, the rest of the company up 8 percent," Immelt said.

At the end of October, GE announced it would spin off its oil and gas business to merge it with Baker Hughes. This is anticipated to create the second largest oil service company on earth.

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