ROUNDTABLE
Season two of Trump: Jobs, manufacturing and reshoring
With the second Trump administration starting to make its mark on the US economy, international trade, domestic tax policy and foreign relations, it is time to look ahead at the potential implications for the crane and hoist industry. With the help of representatives of three key companies in the crane and hoist market, we examine the potential wins and possible pitfalls of a radical change in policy.
A
s the second era of Donald Trump’s presidency gets under way, the impact has been swift and, according to some
observers, severe. And yet Trump has done nothing that wasn’t spelled out clearly in his election campaign. He is sticking to the America First agenda that characterised his first run for president, he is focusing on deregulation and he is using trade tariffs as a weapon of economic warfare.
Some of these policies are divisive, but they
are hardly coming out of the blue. People may sharply disagree about the impact of certain choices, but there is one thing that is universally accepted – President Trump will disrupt the status quo. For now, whether that is for better or worse remains to be seen, as the impact of his many executive orders and his change in foreign policies is yet to play out. We asked leading figures from the US crane and hoist industry to give their perspectives on the country’s new political environment. Eric Factor is CEO of CraneTech, which has operations across the US from Portland, Oregon, to Allentown, Pennsylvania. Kiira Fröberg is vice-president, Investor Relations at global company Konecranes, which has an extensive network of offices across the US, from Hawaii to Florida. Doug Stitt is president and CEO of The Caldwell Group, headquartered in Rockford, Illinois.
Together, they look at how much of Trump’s
rhetoric is bluster and posturing to influence negotiations, and how much of it is a real statement of intent. For instance, the promise of international trade wars, not least with the country’s nearest neighbour and biggest trading partner – Canada – will have a significant effect on international relations, whether tariffs are implemented or not. The reshaping or relations with China will also be a key influence on global trade flows and the domestic economy, as a key pillar of the Republican agenda is the reshoring of jobs. So, too, is the breathing of life into the country’s manufacturing sector, as well as other industries such as automotive, and this will have a direct impact on the crane and hoist sector. While there is some disagreement on what effect tariffs will have on costs and supply chains, and how economic nationalism will play out in the long term, there is widespread acceptance that the many potential upsides, as well as possible downsides, cannot yet be calculated with precision. There is a lot of uncertainty out there, but with Trump you have to expect the unexpected. Whether that is seen as a positive or a negative depends largely on your political point of view.
So, we turned the issue over to our guests for their take on the next four years.
ochmagazine.com | Spring 2025 21
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63
