by Aad Weening, Director International Consumer Trends IORMA
London, 27 January 2017
As this is my first blog of this year 2017, my best wishes to our readers for the year ahead, both privately as in business. Nobody knows of course what the year ahead will bring us but it promises to be an interesting and challenging year, that’s for sure.
First of all: the inauguration of Donald Trump on 20 January last as the 45th president of the USA. As I got it, the basic message Mr Trump gave in his acceptance speech was: “America First”, indicating a more protectionist policy, which I think might have serious effects on both the global and the American economy. For instance, abandoning the Trans Atlantic Partnership will undoubtedly have its impact on global economic relations and might have serious effects on world trade. Levying heavy import duties on goods coming into the USA will in my view fail to have the intended outcome, but will result in higher prices for US consumers and consequently less spending power. Read the full article.
I will closely follow what happens in the next weeks and months and try to assess the consequences on the economy, businesses and consumers. I am looking forward to have your comments, which you can leave hereunder.