CEO of Siemens Joe Kaeser delivers a speech through the Siemens Annual Shareholders’ Meeting on February 3, 2021 in Munich, Germany.
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It’s nonetheless unsure what Donald Trump’s second presidency will appear like, however his first administration was extremely conscious of enterprise points with a set means of working, high German enterprise govt Joe Kaeser advised .
“If I personally, for my company at the time, had an issue to resolve, his administration was extremely receptive,” the chairman of the supervisory board of Siemens Energy mentioned in an interview with ‘s Annette Weisbach Thursday. Kaeser was Siemens’ CEO all through President-elect Trump’s first time period.
Trump did “a lot of things which helped the economy” throughout his first 4 years in workplace, Kaeser mentioned, noting that he believed the president-elect’s tax cuts on the time have been a constructive.
Trump launched a slew of tax adjustments, together with decrease federal earnings tax brackets and larger commonplace deductions in addition to adjustments to youngster tax credit, property and reward tax exemptions and a deduction for pass-through companies. One research achieved on the time, nevertheless, confirmed that the Trump tax cuts, which have been carried out in 2017, solely had a restricted contribution to the robust U.S. development the next yr.
Taxes are once more set to be high of the agenda for Trump as he takes workplace for the second time, alongside different financial coverage plans, akin to steep tariffs on imports and deregulation. Analysts have mentioned that whereas it’s tough to find out what number of of his proposals might be carried out, a few of them may have international repercussions and impression nations and companies.
Speaking to from New York, Kaeser mentioned that Trump had “his way of doing things” however that he may “actually pretty much predict what happens and what doesn’t happen, and so therefore that was actually a relatively easy way of understanding what needs to be done for the companies and the countries.”
Despite the constructive experiences with Trump’s first administration, the previous Siemens CEO mentioned it was nonetheless unclear how the second time period would play out.
A key distinction now was that the Senate, House of Representatives, Supreme Court and White House have been now all “looking in the same direction,” he defined. “I believe the jury’s out on what that means.”
“I think the conclusion we can take today for Germany and Europe, and by the way, also any other country, is that you better get prepared, because typically people like him [Trump], who have a very distinct style of leadership and reacting to, let’s say different news, is that you can only deal with those people from a position of strength. If you are weak, you better not get in front of such an institution,” he added.
