Robert Donachie, DCNF
Chief executives around the world are in line with President Donald Trump’s protectionist trade policies, according to a new General Electric survey.
General Electric surveyed more than 2,000 CEOs in 20 major economies and found that the majority of top executives were in favor of promoting protectionist barriers if it meant their country’s business sector would be more competitive.
Roughly 55 percent of CEOs said protectionist policies would help make their business sectors more competitive.
Business executives in the United Arab Emirates (UAB), India, France, United Kingdom, Canada, Japan and the United States were among the top countries that favored protectionism.
Trump took aim at companies for moving overseas both on the campaign trail and in his first month in office. The president was especially harsh towards firms moving to Mexico and China. These economies, however, present intriguing opportunities for firms that are otherwise not as readily available in the U.S.
The president promised that when he became president, companies like Apple would be “making their products in the United States,” instead of in China. The president even suggested imposing a 45 percent tariff on Chinese goods to make the U.S. a more attractive place for Apple to produce its iPhones.
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