The US can be best understood from within

It is difficult to imagine another event on the world stage of politics that arouses as much interest as the US presidential election. When the end of the race happened to be particularly dramatic and even, the eyes of the entire globe were focused on Washington D.C. at the beginning of November. That is exactly why Miltton gathered a total of fifty Nordic leaders and experts during the election week for the Innovation and Leadership Study Tour 2024.

Each participant had burning questions with them: who would win the election, how the Democratic and Republican camps would act if they won, what kind of power distribution would take shape between the White House, the Senate and the House of Representatives, how would the victory of either of the candidates affect their own business prospects? How would the United States act in Europe, NATO and in relation to Ukraine? What about China? 

Personal meetings with Republicans, Democrats and influential experts in the capital offered a diverse and in-depth picture of the divided reality of the United States. We heard some surprising views about where the country is heading internally as well as in terms of foreign and security policy. Through these encounters, we were practically only a handshake away from past and future presidents of the United States.

Our group spent the election night right near the White House at the National Press Club. Miltton’s own election analysts evaluated the situation in real time. Fences had been erected on the streets to protect the buildings in the center in case of possible disorder. The street level windows were protected with large plywood. The concrete barriers and protective walls surrounding the White House were a solid reminder of the country’s political tensions and disagreements. 

Knowledge of the US political climate is vital for business – especially now, when geopolitical issues are increasingly at the core of companies’ strategic decision-making. Nokia is a current example of this: the company recruited former US ambassador Mikko Hautala to lead geopolitical and government relations. A wide personal network and the ability to produce in-depth international analysis are increasingly valuable to companies operating in a global and interconnected world. 

Presence is also of increasing importance. The United States is still the world’s leading economy, and its influence on the global business environment is enormous. Therefore, multinational companies and investors benefit from local visibility – regardless of whether the country is an immediate business or investment target. The discussions on the trip organized by Miltton emphasized how important it is to be there where decisions are made and the future is shaped. 

The changes that Donald Trump drives to economic and trade policy will impact regulation, customs and taxation. In Washington, it became apparent that changes will be made much faster than at the beginning of Trump’s first term as president. For example, the tightening of trade policy can be challenging from a European point of view, if it is not possible to turn them into opportunities with sufficient foresight.

For this reason, it is even more important for companies to develop tight networks and connections at the local level. Influencing and building relationships enables the formation of a comprehensive picture of critical issues and gives companies a stronger basis for anticipating and preparing for changes. It is this deep understanding that separates successful operators from those who only see changes as obstacles, not opportunities.