A leading figure in German business circles has shared reflections on dealing with the Trump administration, describing it as responsive and business-friendly. Joe Kaeser, Chairman of the Supervisory Board of Siemens Energy, spoke about the Trump administration's sensitivity to business issues, crediting its consistent operational approach.
During Trump's first term, Kaeser served as CEO of Siemens (SIEGY, Financial), noting that when he needed governmental assistance for company matters, the Trump administration was receptive. He highlighted several economic efforts, including tax reforms, which he viewed positively for their potential economic benefits.
Trump introduced significant tax changes, which included reductions in federal income tax brackets, increased standard deductions, and adjustments in child tax credits, estate, and gift tax exemptions. These aimed at boosting the economy, although studies suggested that the 2017 tax cuts had a limited contribution to the economic growth observed the following year.
If Trump were to assume office again, tax policies would likely be a priority along with other economic measures like imposing high tariffs on imports and deregulation. Analysts suggest these plans could have substantial global repercussions, affecting numerous countries and companies.
