Roland Busch, CEO of Siemens, has voiced his opposition to comprehensive EU tariffs targeting China. According to his comments to “Welt am Sonntag”, while he acknowledges that there may be grounds for a few, targeted tariffs, he stressed the critical need for great caution. He warned that attempts to shield against decreased competitiveness could ultimately backfire.
Busch noted that the complex trade issues the EU faces with China are not solely attributable to unfair trade practices. He cautioned against broadly blaming Chinese imported goods on allegations that Beijing subsidizes everything, suggesting this is not the whole truth. Instead, he argued, “the truth is that we are up against highly capable competitors in China – strong engineers and committed teams who develop innovative products and rapidly adopt new technologies, including AI. This is the new competitive landscape. We must acknowledge it and respond accordingly.”
Regarding artificial intelligence, Busch called for the EU to accelerate the approval process for AI technologies. He lamented that the regulatory framework must not stifle the development progress of AI. He pointed out the severe time lag inherent in legislative processes, noting that the period required to pass measures like the ‘AI Act’ or ‘Data Act’ could take two years. During this time, AI models could advance six or eight times over. By the time regulations are fully enacted, the technology might have already shifted in a completely different direction, leaving the EU constantly playing catch-up.
Concerning the risk of an AI technology bubble, Busch considers the danger manageable. He described the current moment as “the biggest bet in history on technology.” However, he clarified that this is not a bubble based on borrowed funds. A considerable portion of the backing comes from companies generating significant cash flow. Furthermore, he believes that if this high-stakes bet does not yield the expected returns, the entire endeavor would not necessarily have to be written off. Busch remains firmly convinced that these investments will pay off. “We are already seeing the first positive effects,” he concluded. “AI will definitely change markets for the better, increasing efficiency and effectiveness, conserving resources, and accelerating innovation.”
