The upcoming US presidential election is casting a shadow over Scottish businesses, with many firms anxiously eyeing its potential effects on their operations and prospects.
As a vital trading partner for Scotland, the US political landscape holds significant sway over various sectors of the Scottish economy.
Scottish companies are preparing for possible economic shifts following the election. The outcome could influence trade policies and tariffs, directly affecting Scottish exports to the American market.
Key industries such as whisky, textiles, and renewable energy are particularly susceptible to changes in US trade regulations.
The whisky industry, which has grappled with US tariffs recently, is hopeful for a resolution to trade disputes, regardless of who wins the election.
Meanwhile, Scotland’s burgeoning renewable energy sector is watching closely, as US climate policies could significantly impact their business prospects.
Firms with established US partnerships or those seeking American investment are carefully considering potential scenarios.
The election result could sway investor confidence and the willingness of US companies to engage in cross-Atlantic ventures.
Speaking to journalists at the Scottish Parliament on Thursday 30 October, John Swinney said: “People in the United States of America should vote for Kamala Harris.
“And I’ve not come to that conclusion only because Donald Trump is opposed to Scottish independence.”
Sarah Malone, the executive vice president of Trump International Scotland, responded to Swinney’s comments.
Malone said: “The Trump family has shown unwavering commitment to Scotland, pouring hundreds of millions of dollars into the Scottish economy and driving many tens of thousands of international visitors to Scotland every year.
“Around 600 people – the majority of whom are Scottish – are employed directly by Trump businesses and many more local and national businesses thrive on supplying services to our resorts.
“It is appalling to see the first minister, who talks of the need to encourage economic growth, insult this commitment and all the people involved in delivering world-class services here in Scotland.”
As the election draws near, Scottish business leaders are stressing the need for flexibility and resilience.
Many organisations are crafting contingency plans to navigate potential policy changes and market fluctuations that may follow the US presidential race.
