WHIPPANY, N.J., Aug. 26, 2019 /PRNewswire/ -- New Jersey republican Entrepreneur Tom Maoli is not new to U.S. Politics and the economy. In this segment with Fox News anchor David Asman, Maoli weighs in on if U.S. consumers feel the impact of a trade war with China over tariffs.
A friend, supporter and colleague to President Trump, Maoli most recently was on President Trump's presidential finance committee and transition team to presidency. In 2009, he was a member of the Executive Finance Committee for New Jersey Governor Chris Christie. In 2015, he was named to join New Jersey Governor Chris Christie's Presidential Leadership team.
Maoli's financial experience runs deep as his ties to the president, as he has been developing real estate since 1983 that include buying, selling, redevelopment, entitlement, construction of residential apartments, condominiums, and sub-divisions, commercial office buildings, and commercial retail shopping centers. Maoli is currently developing residential apartments and self-storage units in New Jersey as well as being named re-developer in the city of Burlington; U.S. pipe site where Maoli plans to build a dream park with a hotel indoor water park. Maoli founded Flash Global Logistics Services, Inc. FGLS, a global company that grew to more than 750 global locations by the time he sold it in 2007. Maoli and President Trump previously had a business together called Trump d'legance a luxury car show featured at Trump Nationals nationwide.
Maoli states "The consumer doesn't know what to make of these tariffs. You have to peel back the onion and understand what these tariffs are about. Consumers are driven off of interest rates. Interest rates are going down, clearly were sitting with an inverted yield curve which points towards recession, but I think that will correct itself and we will come out of that. I think consumers are driven by interest rates when interest rates go down consumers open up their pocketbooks and spend because it cost them less to finance. This is why the President is putting so much pressure on the Federal Reserve to lower rates."
As the CEO of Celebrity Motor Cars luxury dealerships, Maoli personally sees the impact of lower interest rates on the retail car market. "I have 6 car dealerships. Consumers are pouring through the doors, our car sales are up, our service departments are booming."
"I have to tell you, I think the President is doing the right things with these tariffs, China has been eating our lunch and it's time to stop."
About Tom Maoli: Mr. Maoli is the President and CEO of Celebrity Motor Cars, LLC a luxury dealership group based in New Jersey and New York. These dealerships include: Lexus of Route 10, Maserati of Morris County, Alfa Romeo of Morris County, BMW of Springfield, as well as Mercedes-Benz of Goldens Bridge. In addition to his growing automotive empire; Tom is the president and CEO of Real Estate Opportunity Investments, LLC, a residential and commercial real estate development and investment company, along with being founder and CEO of Joe Zone coffee company. Tom also hosts the "Go Big or Go Home" radio show every other Sunday at 10 AM on iHeartRadio. Listeners may reach him via email him through his website at http://www.tommaoli.net
SOURCE Tom Maoli