Siemens gets support from Trump on Middle East Reconstruction Projects

In a recent interview with CNBC at the World Economic Forum (WEF), Siemens CEO, Joe Kaesar revealed that US President Donald Trump would support Siemens in reconstruction projects in countries like Iraq and Syria.

Joe highlights the fact that there are about 60,000 workers in the U.S., with a further 1,00,00 of them adding up who are indirectly employed and are net exporters. 

Due to potential trade tensions to rise between the U.S. and Europe, Kaesar revealed that he further met Trump and few senior administration officials this week to elucidate about his position to further not get caught in any misconceptions regarding his positions.

Talking further with the interviewer Kaesar says,

We have good American workers working for us in the U.S., if we go to Iraq, if we go to Syria, if we help rebuild that country, then I want to be treated as a U.S. company going out and helping those people to get back in line.

According to him, it’s a fair point to state that, he says 

if you create jobs, you’re part of us’.”

Elaborating on the discussion concerning world economic status, furthermore on meeting European Commission President, Ursula von der Leyen, Trump talks about the threats that are likely to be imposed on substantial tariffs over European Automobiles and various imports unless the European Union was willing to push forward with a new trade agreement. 

Striking a watchful tone for 2020, Siemens talks about the warning of an unexpected downfall in the global economy according to November 2019 earning report. The report projects a slowdown for its short cycle automotive and machinery products.

Earlier this month global trade fears were witnessed, which are slightly getting intense followed by the closing of the alleged “phase-one” trade deal between the U.S. and China.

Praising the U.S administration for its decisiveness, Kaesar believes that obstructed investment from the capital goods industry during geopolitical volatility boils down to trust with companies who have been reluctant to invest in building factories or setting up overseas until settlement.

On briefly explaining about his viewpoint Kaesar stated, 

When I talk about uncertainty, it is more about the diversity of opinions as to what is going to happen. If the U.S. government says ‘this is what we are going to do,’ you may not like it, but you have the sort of certainty of where we are going.

According to Kaesar’s comment and Trumps’ idea of economy, We can’t deny that the U.S government has been very decisive about what their plans are, so you can decide whether you are part of it or not.

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