Former Siemens CEO Joe Kaeser sees a significant challenge for Germany and Europe in the second term of Donald Trump. The geopolitical and economic frameworks have undergone a substantial change under Trump, he said in an interview with RTL/ntv at the World Economic Forum in Davos.
“I think the era of Trump 1.0 was characterized by a lot of noise and little signals and even less actions. And one has to assume that this has now changed” said Kaeser, the supervisory board chairman of Siemens Energy and Daimler Truck. The impact of this development is particularly unprepared for Germany and Europe, he added. “The Chancellor has indeed declared a time of change a few years ago. Now it’s here, and it’s affecting Germany and Europe in a way that, in my opinion, they are very unprepared for.”
Kaeser also criticized the lack of economic policy cohesion in Europe, saying, “Ideally, one should have a common European foreign economic policy and be able to apply it. And we don’t have that.” This makes it difficult to confront Trump on an equal footing.
Regarding the German economy, Kaeser expressed concern, stating, “He will probably not help us much. I believe the greatest help the American President can offer is for us to really recognize the gravity of the situation.” German companies need to act with a clear strategy, he emphasized. “Think before you speak and then take a strong position before the American President. Because whoever approaches weak has already lost.”
When discussing Trump as a negotiation partner, Kaeser said, “He is a person who only knows winners or losers. But the idea of seeking a stable partnership where both sides benefit, that doesn’t fit into his mindset.”
Kaeser also expressed criticism regarding climate protection, saying, “One hears that we need to lower energy prices through subsidies and laws. Perhaps one could look at the energy costs, not the prices, and lower those costs.”
Finally, the manager called for a clear economic vision for Germany, stating, “We have unfortunately lost three years in Germany” he said. “Today, we need, as it is often said, a narrative. I would rather say a vision. Something that inspires people, where it’s worth getting up in the morning again.