March 29, 2017
Doing business under Trump – Round Table discussion on current U.S. trade policies
Looking at the new U.S. administration, vbw – the Bavarian Industry Association invited representatives of the Bavarian business community to discuss new trends of the trade policy under U.S. President Trump and possible impacts on Bavarian companies.
Experts from both sides of the Atlantic
Among the participants of the Round Table discussion on March 9 were Bertram Brossardt, CEO of vbw, Dagmar Cassan, Head of the vbw Liaison Office in NYC and Dr. Steven E. Sokol, President of the American Council on Germany. Brossardt emphasized the significance of the long standing friendship between Bavaria and the United States of America. A friendship that is based on a common past and the shared values of democracy, free markets and freedom. He also underlined the interdependence between both countries: About 4,700 U.S. companies directly benefit from German investments, leading to around 670,000 jobs and a turnover of 360 billion euro in the USA.
Perspective of Bavarian companies
Naturally, plans to introduce an import tax are of particular concern for Bavarian companies investing in the U.S. as well as the commitment of the new government to boost its "made in the USA" efforts enforcing the US’ industrial strength. On the other hand, Bavarian entrepreneurs are open to changes, and might even embrace them – as long as they are inherent to the principles of open markets and free trade. Traditionally, the United States of America and Germany both benefit from each other’s open markets.
To learn more about the benefits of the Bavarian-US relationship, please download Bavaria and the USA – a Transatlantic Success Story.