Market Overview

New FedEx Small Business Trade Index Survey Says Trade Boosts the U.S. Economy

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Small business leaders increasingly view U.S. participation in global
trade as the way to improve the overall economy and create American
jobs, according to results of the fourth FedEx Trade Index(1),
a survey of more than 1,000 small business leaders which tracks the
impact of international trade among the small business segment of the
U.S. economy.

The nationwide survey *, commissioned by FedEx Corp. (NYSE:FDX) and
conducted by Morning Consult, finds a substantial majority of U.S. small
business leaders (82%) see increasing U.S. trade as beneficial to the
overall economy, up from 76% earlier this year, and two out of the three
also say the U.S. risks falling behind if not included in trade
agreements.

When asked about the impact of tariffs on imports from China, two out of
three small business leaders worry the tariffs will mean higher prices
on consumer items, and three out of five say the impact on business will
be negative.

"Tariffs can restrict global trade and economic growth," said Raj
Subramaniam, executive vice president, Chief Marketing and
Communications Officer, FedEx Corp. "FedEx supports lowering trade
barriers so our customers can remain competitive in an increasingly
global marketplace."

[1] The FedEx Trade Index is a national survey of 1004
small business leaders conducted by Morning Consult. Respondents
included business owners and executives at companies with between two
and 500 employees. It was conducted July 9-10, 2018. The margin of error
for the full sample is +/-3%.

*FedEx SME Trade Index #1 Fall 2016
*FedEx SME Trade Index #2
Spring 2017
*FedEx SME Trade Index #3 Winter 2018
*FedEx SME
Trade Index #4 Summer 2018

For Infographic:
https://about.van.fedex.com/wp-content/uploads/2018/08/FedEx-SME-Trade-Index-Summer-2018.pdf

About FedEx

FedEx Corp. (NYSE:FDX) provides customers and businesses worldwide with
a broad portfolio of transportation, e-commerce and business services.
With annual revenues of $65 billion, the company offers integrated
business solutions through operating companies competing collectively
and managed collaboratively, under the respected FedEx brand.
Consistently ranked among the world's most admired and trusted
employers, FedEx inspires its more than 425,000 team members to remain
focused on safety, the highest ethical and professional standards and
the needs of their customers and communities. To learn more about how
FedEx connects people and possibilities around the world, please visit
about.fedex.com.

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