CGTN Europe interviewed Morten Wierod, CEO of ABB
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00:00President Trump's threat of tariffs on all imported goods has left business
00:05leaders across the globe weighing up how to ensure continued growth. CGTN spoke to
00:10Morten Veerod, CEO of the electrical engineering company ABB Group.
00:15I think how we weigh out some of the risks of kind of being too, we don't want to be
00:20over dependent on one market or one supply base. So that means we have in our
00:26company set up what we call local for local initiatives many years ago. That
00:30means what we sell in the United States or North America is produced in North
00:34America. What we sell in Europe is produced in Europe and what we sell
00:37that be India or China is produced in those markets. So it's more to to make
00:42you the whole supply chain more resilient and to de-risk some of these
00:45trading because as you say political decisions can be made overnight these
00:50days. So being local and supporting your customers locally become more and more
00:55important and I'm happy to see that we've made that decision quite many
00:59years ago and have invested in many of our major markets. So we have today have
01:03this very high percentage of self-support in the countries both with
01:08factories and but also with services and have a lot of know-how and deep
01:12technical expertise close to customers. That's always a winning recipe in the
01:18in the market.