觀點美國

Donald Trump’s world of uncertainty
企業應對川普的「戰略不確定性」保持觀望

The president’s modus operandi makes long-term planning futile
FT社評:川普的行事方式令任何長期規劃都容易陷入徒勞。只有當政策迴歸穩定,美國經濟才能迴歸最佳活力狀態。

To prosper, businesses need to take calculated risks. Relocations, hiring decisions and product launches are based, in part, on boardrooms making calls on how economic trends will play out. Yet, in Donald Trump’s America, it is difficult to have any conviction on where the economy will be next month, let alone next year. References to “uncertainty” and “tariffs” have dominated US companies’ earnings calls this season. Executives cannot commit to decisions when the range of outcomes stemming from the US president’s global trade war remains so vast. Numerous businesses including Ford, American Airlines and Mattel have even decided to curb guidance on their sales and profits.

要蓬勃發展,企業需要承擔經過計算的風險。搬遷、招聘決策和產品發佈在一定程度上取決於董事會對經濟趨勢的判斷。然而,在唐納•川普(Donald Trump)治下的美國,很難對下個月的經濟走勢作出任何判斷,更不用說明年了。美國公司本季度的財報電話會議頻頻提及「不確定性」和「關稅」。當美國總統發起的全球貿易戰造成的衝擊範圍仍然如此之大時,企業高階主管們無法做出堅定決策。包括福特、美國航空和美泰在內的衆多公司甚至決定撤回對銷售和利潤的業績指引。

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