The American German Business Club of Frankfurt hosted a panel discussion at the International Union Club on Sept. 6th on, “Trumponomics – Anyone Winning?” Over 70 people from the Frankfurt community (politics, companies, banking, etc.) as well as people from abroad joined the discussion.
The panel moderator, Todd Buell, was omniscient when he opened the discussion by saying, “We have three stellar guests. This event will be educational, exciting and entertaining!”
The three panelists were diverse and represented varying opinions about Trump, trade wars and tariffs. Dr. Jürgen Michels, Chief Economist of Bayerische Landesbank, offered a visual metaphor to depict world trade and tariffs. He said, “China has a wall protecting its markets, Europe has a fence, and the US has a hedge.”
Michael Stumo, President of “The Coalition for a Prosperous America”, flew in from the US solely to attend this event. He def
ended Trump’s policies on trade and said, “Tarifs are worth it. China should eat its own over capacity and Europe should eat its own over capacity too.”
Matthias Krämer, a Partner in the law firm, GGV, was less supportive of Trump’s trade policies. He spoke about Section 232, a
US government policy that allows the President to justify implementing tariffs because of national security, He said, “It is not justifiable for President Trump to use US national security as an excuse to impose tariffs.”
The panel discussion was eventually opened to audience participation. The variety of praise and criticism for Trumponomics was a stark reminder of the division in the world on President Trump’s trade polices.
The panel was a big success, the discussion went on while enjoying a flying buffet and drinks. The last guests left around 2:00am in the morning. We look forward to our next event. Be sure to check our Website (http://agbc-frankfurt.org), Linkedin account (https://www.linkedin.com/in/american-german-business-club-16068b151/) and twitter to learn about all our upcoming initiatives.