GE CEO: I like what Trump is doing so far
While many companies are scrambling to create more jobs in the U.S. to satisfy President Donald Trump's hiring agenda, General Electric CEO Jeff Immelt isn't sweating it.
"We create great jobs here when we sell our products every place, and I think the president knows that," Immelt told "Mad Money" host Jim Cramer on Wednesday.
Immelt also said he likes what Trump is doing so far when it comes to infrastructure, tax reform and regulatory reform. He plans to help Trump in any way that he can, and intends to lead by example.
General Electric is a $20 billion U.S. exporter, and exports more goods than it imports. With 5 percent of the world's population and 25% of the world's GDP, the U.S. is already winning, Immelt said.
"We are running the export play. I think these things like wage arbitrage, that's 1980s. That's what GE did in the 1980s. Now when we globalize it's to sell more," Immelt said.
In 2015, General Electric's stock roared higher as the company decided to pivot from its financial divisions and focus on being a leaner industrial manufacturer with a software and digital edge. However, for more than a year, the stock has stayed between the high $20s and low $30s, failing to break out.
While industrial stocks have rallied this year, General Electric's stock is down more than 6 percent. If Immelt were to get called out like Greg Hayes of United Technology was over hiring jobs in the U.S., Immelt said he is prepared with a message for Trump.
"I would say to the President, 'Look, level the playing field. We can take on any company in the world. Help us do that,'" Immelt said.
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