A prominent German businessman reflects on his time collaborating with Trump: "His administration was very open to our ideas."
- CNBC reported that Joe Kaeser, a top German business executive, praised Trump's first administration for being highly attentive to business concerns.
- The chairman of the supervisory board of Siemens Energy stated that his administration was extremely receptive when he personally faced an issue for his company at the time.
- The former Siemens CEO said that while he had positive experiences with Trump's first administration, it was still uncertain how the second term would unfold.
Joe Kaeser, a top German business executive, stated that while it is still uncertain what Donald Trump's second presidency will entail, his first administration was highly attuned to business concerns and operated in a specific manner.
The CEO of Siemens during President-elect Trump's first term was extremely receptive to resolving any issues I faced for my company, according to the chairman of Siemens Energy's supervisory board, who spoke with CNBC's Annette Weisbach on Thursday.
During his first four years in office, Trump implemented policies that positively impacted the economy, according to Kaeser.
In 2017, Trump implemented tax changes such as lower federal income tax brackets, bigger standard deductions, changes to child tax credits, estate and gift tax exemptions, and a deduction for pass-through businesses. However, a study conducted at the time revealed that the Trump tax cuts only had a limited impact on the strong U.S. growth the following year.
As Trump begins his second term in office, taxes remain a top priority on his economic policy agenda, alongside other plans such as tariffs on imports and deregulation. While it is uncertain which of his proposals will be implemented, some of them could have significant global consequences and affect countries and businesses worldwide.
Kaeser stated on CNBC from New York that Trump had a unique approach to things, but he could accurately predict what would and wouldn't happen, making it easy to understand what actions were necessary for businesses and nations.
Although the former Siemens CEO had positive experiences with Trump's first administration, it remains uncertain how the second term will unfold.
The Senate, House of Representatives, Supreme Court, and White House were now aligned, according to him. However, he stated that it was uncertain what this alignment meant, as the jury was still out on the matter.
The conclusion we can draw for Germany, Europe, and any other country is that it's crucial to be prepared when dealing with leaders like Trump, who have a unique leadership style and react to different news. If you are weak, it's best to avoid confronting such an institution.
Trump has been criticized by Kaeser in the past. In 2019, Trump attacked four progressive Democratic congresswomen and posted on social media, which led the crowd at a rally to chant "send her back" in reference to Rep. Ilhan Omar, who came to the U.S. as a refugee from Somalia as a child.
Kaeser stated that it was a burden for him to hear news reports about the event, as it was becoming the "face of racism and exclusion."
"For many years, I resided in the U.S. and encountered freedom, tolerance, and openness in a way that had never been experienced before. This was 'America Great' in action, as stated in a social media post," according to a CNBC translation.
Business News
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