CEO of Fracker Founded by Trump’s Energy Boss Pans Tariffs (1)

The leader of the shale fracker founded by US President Donald Trump’s energy secretary blasted tariffs on steel and other oilfield staples, calling them inefficient and bad for business.

Liberty Energy Inc. Chief Executive Officer Ron Gusek leveled his criticism of “the current punitive tariff policies” at the end of a 65-minute conference call with analysts on Friday. Tariffs have negative impacts on competitiveness and will hinder the Trump administration’s stated goal of dominating the artificial intelligence sector, he said.

“They’re a path to mediocrity, not excellence,” said Gusek, who helms one of the biggest oilfield-fracking companies. “They ...