Donald Trump’s first day in office has sparked a mixed reaction from European business leaders, with some expressing optimism about the newly inaugurated president’s proposed policies while others have taken a more cautious tone.
Trump signed multiple executive orders on his first day, including withdrawing America from the WHO and the Paris Agreement, scaling back government diversity and inclusion programs, and pardoning 1,500 Jan. 6 rioters. The decisions have been met with concerns about their potential impact on global markets, climate change, and social policies.
According to a recent survey of European CEOs, some see Trump’s actions as an opportunity for the US economy to “revive its animal spirit” and become more competitive. Richard Edelman of Edelman noted that this could lead to less regulation, increased energy supply, and a stronger sense of markets functioning. However, he also warned that businesses must balance other stakeholders’ interests on issues like diversity, equity, and inclusion (DEI).
Steven van Rijswijk of ING agrees that Europe needs to focus on economic growth and competitiveness, echoing Trump’s priorities. Oliver Baete of Allianz cautioned that understanding the implications of these policies will take time, emphasizing the need for careful listening.
Not everyone is optimistic about Trump’s agenda, however. Sander van’t Noordende of Randstad strongly opposed the “merit-based system” touted by Trump and his plans to roll back DEI initiatives, arguing they would put trust in the workplace at risk.
The business community remains divided on Trump’s policies, with some seeing benefits and others anticipating uncertainty and volatility for markets. As noted by Jose Vinals of Standard Chartered, policy uncertainty will likely be a significant driver in the short term.
Source: https://www.cnbc.com/2025/01/21/president-donald-trump-european-ceos-react-to-americas-new-leader.html