DP World chairman says he’s not concerned by Trumpby ASC Staff on Feb 13, 2017
DP World chairman Sultan bin Sulayem told reporters on Sunday that he is not concerned about U.S. President Donald Trump's protectionist policies.
"Not at all,” he said when asked whether Trump’s ‘America first’ stance was cause for concern for global trade. “I think this is a phase. I think the sentiment that you see in America is ... in many parts of the world, but this is something that is going to pass," he said on the sidelines of a conference in Dubai.
Sulayem’s comments come days after Sohar Port & Freezone CEO Mark Geilenkirchen told Bloomberg that he foresees no direct impact from Trump’s calls for import taxes and other policies that would prioritise American-made goods.
“We are very positive about growth, we’ve had several consecutive years of growth and we’re now adding the SOHAR Food Zone and an Innovation Cluster that will be self-sustainable and will attract new businesses to the freezone,” he said.
Geilenkirchen added however that if the Trump Administration saw through on its policies, it had the potential to disrupt global trade.
“If President Trump imposes import taxes on certain Asian goods, particularly those from China, South Korea and Vietnam, it will completely change world trade and will also change the positioning of ports and free zones around the world,” he said.