Executive Briefings

Davos CEOs: 'Go Local' On Supply Chain In Trump Era

Business leaders in Davos, Switzerland, traditionally the high priests of globalization, are talking up the benefits of local production to shield themselves from criticism from incoming U.S. President Donald Trump.

Elected on a jobs-focused "America First" platform, Trump has taken to Twitter to rebuke major companies like General Motors, Lockheed Martin and United Technologies, either for making goods in Mexico or for the price of their products.

At last week's World Economic Forum (WEF), a gathering of business and political elites in the Swiss Alps synonymous with free markets, company bosses said they were now preparing to adjust to the Trump era.

"The basic message is to be more national, don't just be global," Richard Edelman, CEO of communications marketing firm Edelman, told Reuters. "Let's try and pre-empt that tweet by having a long-term discussion about the supply chain."

General Motors highlighted moves it said would add nearly 2,000 U.S. manufacturing jobs, including a decision to shift some production of axles to an American factory, rather than have them supplied from Mexico. The automaker said it wanted to "build where we sell".

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Elected on a jobs-focused "America First" platform, Trump has taken to Twitter to rebuke major companies like General Motors, Lockheed Martin and United Technologies, either for making goods in Mexico or for the price of their products.

At last week's World Economic Forum (WEF), a gathering of business and political elites in the Swiss Alps synonymous with free markets, company bosses said they were now preparing to adjust to the Trump era.

"The basic message is to be more national, don't just be global," Richard Edelman, CEO of communications marketing firm Edelman, told Reuters. "Let's try and pre-empt that tweet by having a long-term discussion about the supply chain."

General Motors highlighted moves it said would add nearly 2,000 U.S. manufacturing jobs, including a decision to shift some production of axles to an American factory, rather than have them supplied from Mexico. The automaker said it wanted to "build where we sell".

Read Full Article