The Donald descends on Davos: Fears of a trade war clash with hopes of a new economic boom
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The majority of British entrepreneurs believe the return of Donald Trump will be ‘good for business’ – even as his plans set alarm bells ringing in capitals across Europe. A survey by Helm, a group of 400 UK start-ups with combined annual revenues of £8billion, found two-thirds are optimistic about their prospects under the new US President even as others worry about protectionist ‘American First’ trade policies.
![[Speech: President Trump addresses World Economic Forum delegates in the Swiss ski resort by video link – with many of the self-styled global elite listening in with trepidation]](https://i.dailymail.co.uk/1s/2025/01/22/21/94407555-14314509-image-a-5_1737580169755.jpg)
And speaking to the Mail at the World Economic Forum in Davos, advertising guru and City grandee Sir Martin Sorrell said the return of Trump to the White House has put rocket-boosters under business confidence in the US. ‘America is on steroids, on fire,’ he said. ‘The animal spirits are at a level I haven’t seen since Reagan in 1985.’.
![[King of Wall Street: JP Morgan chief Jamie Dimon warned that share prices ‘are kind of inflated’]](https://i.dailymail.co.uk/1s/2025/01/22/21/94407727-14314509-King_of_Wall_Street_JP_Morgan_chief_Jamie_Dimon_warned_that_shar-m-13_1737580276419.jpg)
His comments came before Trump addresses delegates in the Swiss ski resort by video link today, with many of the self-styled global elite listening in with trepidation. But while the threat of tariffs and taxes on trade partners and foreign multinationals give some sleepless nights, others see an economic boom on the horizon.
Threats: Trump has stood firm on his ‘America First’ approach and has suggested he intends to hit the European Union with tariffs. ‘If you said: “What are people talking about at Davos?”, it’s just one word: Trump,’ noted Sorrell, who is chief executive of marketing group S4 Capital.
