Measured reactions to Trump presidency from local business leaders

Business representatives in Belgium have been reacting to the result of Tuesday’s US presidential election, won by Donald J Trump. Foreign ministers of the EU member states are due to meet in Brussels on Sunday to consider the election result informally, prior to a planned summit on Monday.

European Commission president Jean-Claude Juncker and European Council president Donald Tusk have already sent their congratulations to Trump. Included was an invitation to take part in an EU-US summit at the earliest opportunity.

Former EU commissioner Karel De Gucht (Open-Vld) foresees a period of uncertainty. “With Hillary Clinton you knew where you were,” he said. “With Trump you can’t say.”

Hans Maertens (pictured), managing director of Flemish chamber of commerce Voka, pointed to the potential for protectionism under a Trump presidency. “Flanders is an exporter, with 84% of our production going abroad. The US is our fifth-largest trading partner, and good relations could be at risk.”

“What struck me is that he said he wanted partnerships and not conflicts,” said Claire Tillekaerts, chair of Flanders Investment & Trade (Fit) following Trump’s victory speech. “That’s language that’s a lot milder than used during the campaign. We’ll have to wait and see how he puts his cabinet together, but I would say don’t panic. Keep calm and carry on.” FIT will take part in a royal trade mission to Texas in three weeks.

A Trump presidency “can only be bad news for a small, open economy like Belgium’s,” according to Flemish economist Peter De Keyzer. “The US may not be our biggest trading partner, but it is an example for other economies. It is a role model for free trade, and now they’ve elected a president who is very clearly not in favour of free trade.”

“In the 1930s the US also decided to turn back in on itself,” said Pieter Timmermans, managing director of the Federation of Belgian Enterprise, “with the result that their economy shrank by 60%. The United States is a land of export. Trump has forgotten that. They can reach 350 million people on the internal market, while we in Europe can reach 500 million.”

Photo courtesy Syntra Flanders