How will Donald Trump’s victory impact British business?
Donald Trump’s presidential victory came as a surprise to most and at the end of one of the bloodiest US presidential election campaigns of recent years.
But what will the businessman do when he enters the white house in January and how will his economic policies impact British businesses?
Firstly, trump is the son of a Scot, he owns property including golf courses in Scotland, and is said to enjoy Britain when he visits.
“Britain’s been a great ally,” he said in May. “With me, they’ll always be treated fantastically.”
He supports Brexit and has made positive remarks about a British/US trade deal.
He said: “I’m not going to say front of the queue, but it wouldn’t make any difference to me whether they were in the EU or not. You would certainly not be back of the queue, that I can tell you.”
Trump is proven to be flexible on policy. Meaning the UK will have opportunity to influence some areas of international policies
And let’s face it, the deep-rooted intelligence and military relationships between Britain and the US will endure, regardless.
So, back to business.
A selection of business leaders and financial analysts were asked how they see a Donald Trump presidency.
Chief executive and founder of advertising agency, WPP, Sir Martin Sorrell said
“this is effectively a second Brexit that leaves many very surprised, including the markets and me. It’s going to take a significant amount of time to assess the implications beyond the short term.”
“Increased levels of uncertainty will mean more hesitation to make important decisions in the short term, both by people and governments. But it may accelerate implementation of helpful reforms in the medium term to reduce uncertainty and stimulate investment as a result.
Clearly immigration, trade and terrorism were key issues that swayed electoral opinion in a very significant way, just as they did in the UK, and probably will in the European referendums and elections to come.”
Centrica’s (Owners of British Gas) chief executive, Iain Conn said
“What is clear from this vote, and similarly the Brexit vote last June, is that while globalisation may have been on average good for the world, it has also left many people behind.”
“We have to listen to this, and business, government and civil society will need to map a path forward together. The subject of social inequality is one shared by the UK and the US, and perhaps should be part of the agenda for the special relationship between our two countries.