AMERICAN CHEMICAL INDUSTRY MANAGEMENT, NEW YORK (CNNMoney) — The U.S. chemical industry is poised to adapt to the Trump administration, but the challenge may not be in what the president does.
A Trump administration that has made no secret of its hostility toward American industry could turn out to be a recipe for a less productive environment, industry executives say.
The chemical industry has already taken a hit in terms of business, but a Trump administration may reverse that, said Mike O’Malley, president of the American Chemical Society.
“The chemical industries are looking for a role that will be consistent with what the Trump Administration has already done,” O’Lmara said.
It’s not going to be easy, and it’s not likely to be short lived, he said.
But, “If we do our jobs well, we can do better.”
While many of the chemical companies’ top executives are not currently on the administration’s transition team, the industry is still working to fill several vacancies, including in government and with industry trade associations.
Industry leaders are concerned that Trump’s decision to withdraw the United States from the Paris climate accord, to cap greenhouse gas emissions and roll back environmental protections will have a detrimental effect on the industry.
The chemical industry remains the country’s largest producer and marketer of chemicals.
To prepare for the changes, the chemical industry and its trade association are working to develop a “backbone” organization to support the industry and help it withstand changes.
O’Donnell, the American Chemistry Council president, said that the group is working with industry to develop strategies for the industry to avoid, mitigate and mitigate the effects of the administration, while also helping the industry move forward.
Companies have already been asked to prepare for possible regulatory changes and possible changes in government, and a chemical industry task force is working to identify the most important areas that the industry can focus on, O’Leary said.
In its first year in office, the Trump White House has not produced a plan to address the climate crisis, but industry executives said they have been told the Trump team will take an open mind and have been briefed on the importance of climate change and its impact on the chemical industries.”
he said of the transition.
In its first year in office, the Trump White House has not produced a plan to address the climate crisis, but industry executives said they have been told the Trump team will take an open mind and have been briefed on the importance of climate change and its impact on the chemical industries.
O’Leary described the president as an “unprecedented force” in shaping industry policy.”
We’ve got to go into this in a very different way,” he said, noting that the Trump transition team is being led by “very experienced people” who have experience in industry.
O’Lmacalea said the chemical manufacturing industry has “been a very important part of our economy” for over a century and has been a key force in making American manufacturing competitive.
President-elect Donald Trump and first lady Melania Trump at Trump Tower in New York City, Nov. 11, 2017.
Trump and his top advisers have promised to overhaul the chemical sector’s business model and take action on climate change, and they have pledged to “stop the bleeding” of the industry by investing in clean energy and innovation.
But O’Reilly said that while he’s encouraged by the president-elect’s commitment to industry, the chemistry industry is not yet ready for the change that is coming.