Contents on this page

January 21, 2017

  • Keidanren: Chairman Sakakibara’s comments on the inauguration of US President Trump

November 10, 2016

  • Ai Group: Risks of Trump victory should not be overblown

November 09, 2016

  • BusinessEurope: Signals of reconciliation and reassurance needed to avoid economic uncertainty
  • BDI: Massive uncertainty in the economy
  • CBI: Business reacts to the US election
  • CII on US Elections
  • U.S. Chamber President comments on election results
  • SBF: Hope the Trump administration sees long-term benefits in pro-trade and open economic policies
  • FKI: To President-Elect Donald Trump, “The 45th President of the United States,”

November 08, 2016

  • CCC: Canadian Chamber prepared to show benefits of trade to President Trump

January 21, 2017

Keidanren: Chairman Sakakibara’s comments on the inauguration of US President Trump

I would like to offer my congratulations on the inauguration of President Trump.

The United States plays a leading role in a diverse range of fields worldwide, including politics, economics, security, technology, and culture and the arts. The responsibilities assumed by the president who governs such a superpower are therefore of vital importance, and I think that people in the United States and others all around the world awaited the inauguration of a new president with great anticipation.

The United States is Japan’s ally; the two countries are bound together by strong ties of trust and friendship. The United States is also Japan’s most important partner, reflecting an excellent relationship maintained over many years. On the economic front as well, our two countries have built an extremely close relationship of interdependence. Japanese companies have made a significant contribution to the US economy and to expanding US exports, most notably by making direct investments in the United States amounting to $411 billion and directly or indirectly creating 1.7 million jobs. This relationship between Japan and the United States is the strongest, most important bilateral relationship in the world, and it needs to be perpetuated and developed further in future.

The world currently faces many serious challenges, including not only the stabilization and development of the global economy, but also maintenance and expansion of free trade and investment, environmental and energy-related issues, and the fight against terrorism. In these circumstances it is essential for Japan and the United States to collaborate even more closely and work harder than ever for worldwide prosperity.

We in Japan’s business community will continue to watch the United States with great anticipation and interest to see how it leads the world under its new president.

At the same time, Keidanren will seek to advance mutual understanding with the Trump administration regarding the further development of the US-Japan relationship, as well as other key matters—such as the Trans-Pacific Partnership and the COP21 Paris Agreement—that contribute to stability and development, not only for our two countries, but also for the world as a whole.

Source: Keidanren

November 10, 2016

Ai Group: Risks of Trump victory should not be overblown

“While Mr. Trump’s victory in the US Presidential election introduces new uncertainties – particularly in relation to trade and the global economy – the risks to Australia should not be overblown,” Australian Industry Group Chief Executive, Innes Willox said.

“There are some clear positive signs from the election outcome – for example in the commitments to increase infrastructure spending and to stimulate the US economy with tax and other pro-growth policies.

“On some of the specific issues of relevance to Australian business, the end of the Trans Pacific Partnership (TPP), which became a bipartisan position over the course of the election campaign, is disappointing rather than disastrous. We already have a Free Trade Agreement with the US which is not under threat and we have FTAs with many of the other countries interested in joining the TPP.

“On climate policy, the implications are far from certain. The US has ratified the Paris Agreement and if it decides to withdraw this may take years. Even without the US, the Agreement would still have very widespread coverage.

“Perhaps the most important take-outs relate to broader questions about the management of economic transition and the importance of building a more inclusive approach to economic and policy change. Critically, the US election result shows that you cannot airily wave goodbye to big parts of industry without expecting political repercussions.

“And it shows that long periods of real wage stagnation for large sections of the community and rising inequality of income will generate disenchantment with political and economic systems.

“While Australia has a far stronger social safety net and more actively embraces income redistribution than is the case in the US, nevertheless there are significant parallels here and there are important messages for how we in Australia approach our own economic transitions.

“There are massive changes afoot in our industrial structure; in the way, we work; and in the way, we do business, and we need to recognize that government and business have responsibilities to bring the community along.

“People are hurting and are not convinced that the economy and the political system are delivering for them. They have concerns about their jobs and opportunities for the future and they do not like being taken for granted. Put simply a lot of people are not confident that the trickle-down argument works for them.

“This does not mean that we walk away from change; it is more a question of how change is managed. It also further emphasizes the importance of investing more to equip people to participate in the higher-skilled workforce that we need for the future.

“There will be endless analysis of the US election outcome and the risks it presents. But there are also opportunities from what is a huge change to the global political landscape and messages for business and policy makers that cannot be ignored,” Mr. Willox said.

Read the Radio Transcript: Innes Willox commenting on Trump victory on Sky Business – here

Source: Ai Group

November 09, 2016

BusinessEurope: Signals of reconciliation and reassurance needed to avoid economic uncertainty

BusinessEurope President Emma Marcegaglia on the result of US presidential elections: “Signals of reconciliation and reassurance needed to avoid economic uncertainty.”

After a divisive electoral campaign, we hope to see signals of reconciliation and reassurance rapidly.

The United States are and will remain the most important partner of the European Union in shaping a fair and rule-based globalization to the benefit of all. Many examples in the past have demonstrated that free trade done in a fair way leads to peace and prosperity whereas isolation is the road to poverty and conflicts. The European business community will therefore continue to support a close strategic and economic partnership with the US and a deepening of transatlantic economic ties, including a fair TTIP.

The 45th President of the US is an entrepreneur. We hope that his decisions will be driven by political and economic reason.

Source: BusinessEurope

November 09, 2016

BDI: Massive uncertainty in the economy

Following his victory in the US presidential election, Donald Trump would be well advised not to isolate the US economy from the rest of the world.

Following Donald Trump’s victory in the US presidential election, BDI President Ulrich Grillo is calling for an end to the isolationist rhetoric of the election campaign. “There is massive uncertainty in the economy. Donald Trump would be well advised not to wall off the US economy from the rest of the world. Otherwise, the lack of clarity about future developments will have a strong negative impact on the global economy,” said Grillo in Berlin.

Grillo regards it as essential that the US maintains its global commitments that are based on existing agreements, institutions and alliances. “The US is one of Europe’s most important partners in shaping globalization, stimulating the global economy and tackling geopolitical crises,” underlined the BDI President. Despite the major internal and social political challenges currently facing the US, the country must honor its responsibilities as a global leader.

“Donald Trump made very skeptical comments about free trade during the election campaign.  The United States must continue to support open markets. Everything else would be poison for the economy,” said Grillo, adding that US companies rely on the technology and intermediate products from other markets.

“German industry will continue to work towards a fair TTIP with good regulations for both sides,” said the BDI president. The transatlantic economic relations are extremely important for German companies. The US is the biggest market in the world for products from Germany. Furthermore, almost 5,000 German companies are represented in the US.

Grillo rejected the statements made by Trump during the election campaign: “Stirring up populist sentiment by playing on people’s fears only produces pseudo-solutions and does enormous damage to the people and the economy.”

Source: BDI

November 09, 2016

CBI: Business reacts to the US election

As the UK and the USA’s economic special relationship continues to go from strength-to-strength, we hope that the President-Elect is committed to developing this unique partnership further.

Ben Digby, CBI International Director, said:

“British business has been keeping a close eye on the race for the White House, and congratulates the President-Elect.

“The UK is the largest foreign investor in America, and British companies support over 1 million jobs in the States, stretching from Alaska to New York.

“As the UK and the USA’s economic special relationship continues to go from strength to strength, we hope that the President-Elect is committed to building on, and developing, this unique political and trading partnership.

“Firms are keen to understand more about the President-Elect’s trade policies. Following the UK’s decision to leave the European Union, we need to do everything we can to make it easier to trade, invest and drive prosperity on both sides of the Atlantic.”

Source: CBI

November 09, 2016

CII on US Elections

CII congratulates Mr. Donald J Trump, the 45th President of the United States of America on his momentous victory.

The US-India relationship has come a long way since President George W. Bush, initiated the US-India civil nuclear agreement in 2005 – this landmark agreement helped place our two countries on the path of closer geo-strategic and economic collaboration and was hugely significant in cementing the ties of friendship and partnership.

The bipartisan support India enjoys in the United States is a significant and positive contributing factor which will continue to propel the relationship.

CII looks forward to working with President Trump and his administration on the critical issues that impact the US-India trade and investment partnership. We hope that challenges relating to mobility of skilled labor, market access for pharmaceutical products from India, and for financial services institutions and SMEs will be addressed.  It would also be important for critical dialogues such as the US-India Strategic & Commercial dialogue, CEO Forum, Trade policy forum etc. to continue charting pathways to augment our partnership.

Dr Naushad Forbes, President, CII, said, “Our primary focus areas with the United States have been standards, manufacturing competitiveness, defense collaboration and mobility of high skilled labor. We look forward to working with the Trump administration to further cement this critical partnership.”

Source: CII

November 09, 2016

U.S. Chamber President comments on election results

‘We stand ready to help the new administration, next Congress unite our country around a mission we believe all Americans can support – to grow our economy, create jobs, and lift incomes for all citizens,’ Says Donohue

U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement on the results of the 2016 elections:

“The Chamber congratulates President-elect Donald Trump and all the candidates who won their elections to the US Senate and House of Representatives.

“Americans have just lived through a bitter, personality-driven campaign that exposed some deep divisions in our country. Now, it’s time to turn the page and refocus the country’s attention on the many substantive domestic and international challenges facing us. The Chamber and its members stand ready help the new administration and the next Congress unite our country around a mission we believe all Americans can support—to grow our economy, create jobs, and lift incomes for all citizens.

“The number one goal of the Chamber’s political program this cycle was to save the pro-business majority in the Senate. Yesterday voters agreed, and chose pro-business majorities in the Senate and the House to represent them in Washington.

“To help achieve this result against very long odds, the Chamber actively engaged in the most challenging races through advertising, close partnerships with state and local chambers who helped drive home our jobs and growth message in their communities, and a strong presence in digital and social media. We also launched an unprecedented get-out-the-vote drive, which engaged major employers and many others to help bring millions of voters to the polls.

“All told, of the 11 Senate contests in which the Chamber devoted significant voter education resources, our preferred candidates were victorious in 8, with New Hampshire still to be called. Of the races called, 95 percent of all the candidates in the House and Senate endorsed by the Chamber won their elections.”

Facts about the Chamber’s voter education efforts:

  • 95 percent of Chamber-endorsed candidates in House and Senate won (of races called).
  • Of the 10 Senate contests that have been called where the Chamber invested significant resources, 8 candidates were successful, an 80 percent success rate.
  • The Chamber ran a total of 46 television ads (38 in the Senate, 8 in the House) in 15 states.
  • The Chamber participated in 8 House primaries this cycle and all 8 candidates prevailed in their primaries and the general election.
  • The Chamber’s GOTV program, Vote for Jobs, was the largest and most sophisticated get-out-the-vote effort in the Chamber’s history. The site featured online resources with state specific information, including tools to register, check your registration status, find polling places, access in person early voting locations and hours, and request absentee ballots. The effort was promoted through an aggressive advertising campaign and by partnerships with hundreds of employers, associations and chambers of commerce to remind the business community of the importance of voting.
  • The U.S. Chamber held 60 endorsement events across the country with a presence from the federation and the local business community at each event.

Source: USCC

November 09, 2016

SBF: Hope the Trump administration sees long-term benefits in pro-trade and open economic policies

The Singapore Business Federation respects the choice of the American people who have elected businessman Donald Trump as the 45th President of the United States. Whilst there will be volatility and uncertainty in markets, the Singapore Business Federation (SBF) believes that these will subside over time as it becomes clearer how much of the election rhetoric translates into actual policies. Notwithstanding, businesses across the globe will need to adjust to this new normal in American politics.

This US Presidential Election has unmasked the strong undercurrents that are dividing their society. This also appears to be what we see as a growing and worrying trend of inward-looking and protectionist politics globally. Such politics threaten stability which is particularly important at a time when the global economy is fragile.

The ripple effects of these policies will affect the multilateral US-led Trans-Pacific Partnership (TPP). Opposing the TPP undermines the ethos of credibility, free trade and investment – values which are strongly advocated by US and Singapore. We hope that President-elect Trump’s administration will focus on the longer-term benefits and the strategic value that TPP can bring to the US.

Singapore enjoys strong and longstanding economic and business ties with the US, underpinned by the US-Singapore Free Trade Agreement and the Strategic Framework Agreement. Our bilateral co-operation with the US is broad and deep, spanning a wide scope and over a long period. Both sides have derived mutual benefits from this strong relationship. US companies have been in Asia for a long time because it is in their interests to do so. There is growth and money to be made here. President-elect Trump is a businessman. He will understand where to put the smart money. We are therefore confident that US corporates will remain strongly engaged in the region. We are friends and we will continue to do good deals.

Information on US-Singapore economic relations

The US was Singapore’s third largest trading partner in 2015 with a total bilateral trade of over SD75 billion. According to the US Department of State, the US is Singapore’s largest foreign investor with investments reaching USD154 billion in 2013. Trade between ASEAN countries and the US cumulatively amounted to USD 227 billion at the end of 2014, supporting over 370,000 American jobs.

Source: SBF

November 09, 2016

To President-Elect Donald Trump, “The 45th President of the United States,”

The Federation of Korean Industries extends our congratulations on President-Elect Trump’s victory. Based on President Trump’s new leadership, we look forward to the continuation of the traditional Korea-U.S. alliance, and hope the close coordination between Korea and the United States will continue with this new administration.

The business sector of Korea will strive to expand bilateral cooperation in all areas, including politics, society, and the economy, building upon the firm foundation of Korea-U.S. relations.

Eom Chi-sung, Chief of International Department of the Federation of Korean Industries

Source: FKI

November 08, 2016

CCC: Canadian Chamber prepared to show benefits of trade to President Trump

The Canadian Chamber of Commerce congratulates President-elect Donald J. Trump on his historic win, and welcomes the opportunity to work with him and his administration on enhancing trade between the two countries.

“The United States of America remains Canada’s most important economic partner, but our shared interests go much deeper than that. It will be important for our government to build a solid relationship with the new administration and to demonstrate the benefits both our countries receive from our common ties,” said the Hon. Perrin Beatty, President and CEO of the Canadian Chamber of Commerce. “We look forward, in partnership with the Canadian government, to working with the new administration and our American counterparts on a number of crucial initiatives.”

At the top of the Canadian Chamber’s agenda is the issue of border management. “This issue has come up repeatedly in the electoral campaign, and it is vital for bilateral trade that the border between our countries remains open and allows for the swift passage of goods. Nearly three-quarters of Canadian exports go to or through the US, and such an open border is critical for our economic health,” explained Mr. Beatty.

“Measures that improve Canada-US trade should be our priority with this new administration, but there is a long list of topics we will need to address, from softwood lumber to NAFTA to pipelines. Most important is to open a dialogue that will benefit both countries,” said Mr. Beatty. “It’s critical for our government to get some issues on the agenda early, to ensure Canada doesn’t get lost in the global chatter.”

Source: CCC

Image: Fotosearch