Associated media – Associated media
The future of Donald Trump’s second term remains uncertain, yet his first administration was characterized by a strong focus on business-related issues, according to Joe Kaeser, a prominent German business leader. In a recent interview with CNBC, Kaeser, who chairs the supervisory board of Siemens Energy, reflected on his experiences during Trump’s initial presidency.
Kaeser noted that the Trump administration was very attentive to business concerns. “During that time, if I had a problem to address for my company, the administration was extremely responsive,” he shared with CNBC’s Annette Weisbach. Having served as the CEO of Siemens when Trump was president, Kaeser observed several initiatives that he believed positively impacted the economy.
He highlighted the significance of Trump’s tax reforms, which included reductions in federal income tax rates, expanded standard deductions, and adjustments to child tax credits and estate tax exemptions. While these tax cuts, enacted in 2017, were celebrated at the time, a study later indicated that their contribution to the robust economic growth seen in 2018 was somewhat limited.
As Trump prepares for his second term, taxes are expected to be a central theme of his economic strategy, alongside other policies such as imposing high tariffs on imports and rolling back regulations. Analysts suggest that while it is challenging to predict the extent of implementation for these proposals, some are likely to have global implications, affecting both nations and businesses.
In his conversation with CNBC, Kaeser remarked on Trump’s distinct approach to governance, stating, “He has his own way of doing things, and you can generally anticipate what will happen. This predictability simplifies understanding what is necessary for companies and countries.”
Despite his appreciation for the first Trump administration’s responsiveness, Kaeser expressed uncertainty about the nature of the upcoming term. He pointed out a notable shift: now, the Senate, House of Representatives, Supreme Court, and White House all align ideologically. “The jury is still out on what that means,” he said.
Kaeser emphasized the importance of preparation for countries like Germany and others. He explained that dealing with leaders who have a strong, assertive style requires a position of strength. “If you are in a weak position, it is often better to avoid confrontation with such figures,” he advised.
Kaeser has not shied away from criticizing Trump in the past. In 2019, following Trump’s derogatory remarks towards several progressive Democratic congresswomen, Kaeser expressed concern about the political climate. He was particularly troubled by the rallying cry of “send her back,” aimed at Representative Ilhan Omar, who had fled Somalia as a child. Kaeser reflected on the gravity of such rhetoric, stating that it made the highest office in the country appear as a “face of racism and exclusion.”
Having lived in the United States for many years, Kaeser fondly recalled the ideals of freedom, tolerance, and openness that he experienced. He noted that these values were emblematic of what he believed to be the essence of America at its best.
Connected media – Connected media
