The U.S. election has come to an end, with Donald Trump emerging as the clear winner, securing both the majority of electoral votes and the popular vote. Ahead of this historic outcome, a livestream discussion hosted by Coface featured Martin Naville, Senior Advisor to the Swiss-American Chamber of Commerce, and Klaus W. Wellershoff, Chairman of Wellershoff & Partners. Together, they analyzed the potential political and economic impact of the election results.
A decisive outcome
The election was expected to be close, but the outcome turned out to be decisive. Trump will be returning to the White House for a second term. The lively discussion in the livestream, titled “Comeback or first female president”, covered various aspects of this election. Naville, who is familiar with Trump’s approach from his previous term, suggested focusing on the actions rather than the words of the populist leader. On the other hand, Wellershoff expressed concern that Trump’s leadership could have lasting effects on democratic institutions, especially if the Republicans control both the Senate and the House.
Economic concerns for Swiss businesses
From an economic standpoint, the discussion focused on tariffs and their potential inflationary effect. Trump’s unpredictability adds complexity to business planning. Swiss exports to the U.S. have been growing steadily, but higher tariffs may push some companies to create more jobs in the U.S. to circumvent rising costs on goods and services – a goal Trump aims to achieve.
Optimism amidst challenges
While both experts agree that challenges lie ahead, they remain optimistic that Swiss businesses can maintain, and possibly even strengthen, their position in the U.S. market.
Watch the full video recording below.
