The CEO of $SIE (+0.44%), Roland Buschsaid that the company is "tariff resistant" in the face of fears of a possible transatlantic trade war. Trump, who in his inaugural address on Monday called for a new "golden era" for the USA had repeatedly threatened to impose tariffs on goods from the EU.
Trump said earlier in the week that the EU "has been very, very bad to us. So they're going to be subject to tariffs. That's the only way ... you're going to get fairness."
When asked if Siemens had any concerns about potential additional tariffs, given that the company is such a large European corporation, Busch replied:
"At the same time, we are a global company. Most of our sales come from the US, we have 25% and that share is growing."
Busch referred to the recent acquisition of the US software company Altair worth 10 billion dollars and emphasized that the company is expanding its presence in the USA is expanding.
"We are tariff resistant. We are very local in local markets, just like in other regions, in China and Europe. On the other hand, tariffs usually lead to an increase in inflation, so it doesn't really help. So I think the idea is what we can do, what kind of agreements we can make to minimize trade tariffs,"said Bush in Davos, in an interview on #wef2025.
"Free trade and low tariffs are really a growth driver"
