- Title: German experts have mixed expectations for Trump presidency
- Date: 19th January 2017
- Summary: BERLIN, GERMANY (JANUARY 19, 2017) (REUTERS) VARIOUS OF ENTRANCE TO GERMAN INSTITUTE FOR ECONOMIC RESEARCH (DIW) PRESIDENT OF DIW, MARCEL FRATZSCHER, WALKING DOWN CORRIDOR IN LIBRARY (SOUNDBITE) (English) PRESIDENT OF DIW, MARCEL FRATZSCHER, SAYING: "It is very hard for German and European companies to prepare for all the uncertainties that Donald Trump has been creating through his communication. The best is to keep a cool head, to plan ahead, to diversify. German companies are well diversified globally. They are very competitive. Yes, the United States is an important trading partner but it is not the end of the world if exports don't grow as much with the U. S. as they used to be. So I am optimistic that in terms of trade, Europe will not pay a major price. I am much more worried about the politics and foreign policy than about economics."
- Embargoed: 2nd February 2017 16:41
- Keywords: Trump election U. S. Fratzscher Hochgeschwendner Germany experts
- Location: BERLIN AND MUNICH, GERMANY
- City: BERLIN AND MUNICH, GERMANY
- Country: Germany
- Topics: Government/Politics
- Reuters ID: LVA0015ZQY0CN
- Aspect Ratio: 16:9
- Story Text: German experts showed mixed emotions ahead of the inauguration of Republican Donald Trump as the next U.S. president on Friday (January 20).
"It is very hard for German and European companies to prepare for all the uncertainties that Donald Trump has been creating through his communication," the President of the German institute for economic research (DIW), Marcel Fratzscher, told Reuters on Thursday (January 19).
Fratzscher underlined that German companies were well prepared as they are diversified globally and very competitive.
"Yes, the United States is an important trading partner but it is not the end of the world if exports don't grow as much with the U.S. as they used to be. So I am optimistic that in terms of trade, Europe will not pay a major price. I am much more worried about the politics and foreign policy than about economics," he said.
As well as Fratzscher, also Michael Hochgeschwendner, professor for cultural history of Northern America at the Munich University, emphasised that it's mainly uncertainty, which can be expected from Trump.
"You can count on it: There will be new stuff coming from him by the hour. A man who manages to contradict himself within one sentence, who contradicts himself several times in a single speech will not be able to produce a consistent policy. We have to wait and see how far his ministers and advisers are able to slow him down. But we are well advised to be prepared for uncertainty and insecurity. That does not necessarily need to be a bad thing. He can change things this way. But it will be a problem." Hochgeschwender said.
Trump is preparing to begin taking executive actions on his first day in the White House on Friday to roll back policies of outgoing President Barack Obama and implement parts of his plans to crack down on immigration and build a wall on the U.S.-Mexican border.
Trump, a Republican who was elected on Nov. 8 and will be sworn in during a ceremony at the U.S. Capitol on Friday, is poised to wield one of the most powerful tools of his office, the presidential pen, for executive actions that can be implemented without the input of Congress. - Copyright Holder: REUTERS
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