Sorrell and agency leaders react to Trump winning presidency

We asked agency bosses, in the US and outside, for their immediate thoughts on his election victory and how they feel it will impact the global economy and the broader marketing sector.

Check back, as we’ll be adding more reactions as they come in.

Sir Martin Sorrell, founder & executive chairman, S4 Capital: “Good for the US economy. US business doesn’t like to admit it, but they prefer Trump as he stands for low tax and low regulation (maybe with some qualification in tech). He has already indicated lower personal and corporate taxes. It looks like it could be a clean sweep including the Senate and House too, which potentially gives the new Trump administration considerable power. So businesses with significant US exposure, both at home and abroad, will benefit. The market is already reacting that way. Maybe the tariffs will be inflationary, too, if enacted.

“The position for Europe and for companies exporting into the US is probably less rosy, given the likelihood of US tariffs and pressure to pay our way on defense and Nato. I think the new administration will be good for South America, too, contiguous for supply chains, but maybe a little less good for Asia.

“On the three big geo-political issues – US/China relations or lack of them, Russia and Iran – the implications are less clear. The Chinese administration would probably have preferred Vice-President Harris, as she would have been more predictable and they will have to deal with the threat or reality of increased tariffs. The relationship will probably remain difficult and China with its relationships with the Global South. On Russia and Ukraine, the president will probably put pressure on Ukraine to end the war and there will be uncertainty around further European and Russian moves. On the Middle East, I think a Trump administration will push for a settlement too and this will be good for the region. At the same time, we may well see a firmer stance against Iran, a Saudi/Israel pact implemented, maybe without Prime Minister Netanyahu. We will see.”

Freya Williams, CSO, North America, Revolt: "We know one thing coming out of this election: once the dust settles, Americans will be hungry for unifying messaging, not more polarization. Our “Poking the Bear” research shows that, when framed correctly, Americans have much more in common when it comes to social and environmental issues than the currently polarized dialogue would lead you to believe. Themes like the right to clean air and clean water, powering American homes with clean power produced in our heartland communities, enjoying food grown by American farmers free from pesticides and toxic chemicals – these ideas perform strongly in our research with both Republican- and Democrat-leaning respondents, So brands should not shy away from issues that matter deeply to their audiences. If we learn how to frame them correctly, we can help folks find common ground."

Chris Camacho, CEO, Cheil UK: “In reality, we don’t know what this Trump win means longer term, given his complete unpredictability and volatility. His approach can change at the drop of a hat and so, potentially, the biggest challenge for businesses may simply be the inability to plan for what’s coming next.

“For agencies, this means helping clients develop strategies to navigate potentially transformative economic shifts – particularly for those dependent on global supply chains or in sectors vulnerable to trade policy changes. Many clients, especially in finance, manufacturing, and technology, may adjust marketing budgets in anticipation of new regulatory and tax frameworks. With Rachel Reeves’s recent budget adding another layer in the UK, our industry may need to advise clients on balancing immediate growth opportunities with the rising costs of doing business.

“Marketers can also expect a shifting cultural and media landscape. Elon Musk’s close involvement with the Trump campaign means X is highly unlikely to return to its former incarnation, meaning brands may continue to pay close attention to brand safety through the platform. And if cultural divisions continue to play out, brands may need to look carefully at how and where they show up in relation to those social conversations.”

Lauren Kay-Lambert, co-managing director, Shape History: “I have no issue naming this for what it is. A second Trump presidency is an incredible threat to our entire society – he’s boasted to be a ‘dictator’ on day one of his second term. Completely terrifying. A second Trump presidency poses serious risks to businesses, with the potential for increased inflation from a proposed 10% tariff on imported goods, a likely global trade war, and increased costs for American families. Continued women’s reproductive healthcare risk will sideline women from the workforce, straining family finances and adding pressure to the already complex healthcare system – all of which could inevitably erode economic stability and workplace equality.

“The projected additional 4bn tons of US emissions by 2030 would also set back environmental progress, placing long-term business sustainability and global climate goals at severe risk.”

James Kirkham, co-founder, Iconic: “11 months ago, here in The Drum, I cautioned against ignoring media platforms such as Rumble, a prediction that’s proven prescient as we see the limitations of legacy media laid bare. Billions still pour into traditional TV ads, yet they’ve become the white noise of modern marketing. We need to break from this fixation on old v new media; it’s now a nuanced matrix of tone, authenticity, and platform dynamics. Trump 2.0 has a media game less about primetime cable slots, choosing raw, unfiltered access on podcasts such as Joe Rogan or the primal spectacle of UFC appearances with Dana White.

“This is the media now. Chaotic but influential and a direct tap into public consciousness. These platforms don’t just talk at people but pull them into the conversation, a stark contrast to the mainstream media’s endless ventilation cycle of the same commentary that lost its grip. While political debate rages, let’s pause to recognize what’s undeniable: Bitcoin has hit an all-time high today, the Dow’s on the rise and business might move temporarily out of a tedious limbo. Whatever your values, the conclusion of this election cycle will unclog economic arteries and take business out of this paused purgatory.”

Junelle Cavero Harnal, head of political, My Code: “A Trump victory signals a new landscape in American politics and culture, marked by a more conservative shift. While the administration may focus on traditional economic priorities such as reducing regulation, securing borders, and tackling inflation, businesses must also navigate a complex cultural environment where DEI and multicultural engagement may receive less direct federal support. For companies, this means proactively hedging their risks and taking on a stronger internal role to prioritize multicultural initiatives as the market – and the nation – continues to grow more diverse.

“A conservative victory doesn’t change the fact that America is becoming increasingly multicultural. In fact, it’s a reminder that multicultural communities are not monolithic in their views. Companies that prioritize inclusivity in their workforce, marketing, and customer engagement strategies will remain relevant and resilient-- and they should account for the diversity of views in their marketing strategies. Adapting to the changing demographics and cultural expectations will be essential, with businesses needing to ensure their business decisions align with the demands of a diverse consumer base. As companies plan for the future, they will need to commit to being internal champions of diversity and multicultural leadership practices, recognizing that even in a shifting political environment, their success relies on meeting the needs of an evolving market.”

Jamie Williams, managing partner, Isobel says: “There are a lot of unknowns surrounding Trump and the economic impact of his return to the White House. Will Trump impose his promised import tariffs? Doing so will be seriously bad news for UK economic growth. At 78 years old, will Trump stay in charge and fully involved for four years, or will his new, more radical team take control? And within this team, what economic policy role will Elon Musk play?

Trump has a fondness for the UK, and a trade deal was very much hoped for during his first term. But if Trump heads to the golf course and Project 2025 takes shape, this fondness will likely vanish. And who knows what Trump’s foreign policy intentions will mean for Ukraine and the Middle East, and what this will mean for the global economy.”

Dominic Sale, managing director, Government Experience practice, Code and Theory: “The US government faces substantial ongoing operational expenses for digital services, with some agencies allocating up to 90% of their tech budgets just to ‘keep the lights on.’ Rising demands for cybersecurity funding further constrain resources, leaving little room for new investments or shifts in priorities when administrations change.

“As a result, historically, only a small portion of government spending on these services has been influenced by political shifts. While this could change, neither party has shown a commitment to cutting or significantly realigning IT budgets in recent decades. The trend has been to spend slightly more each year, largely on the same priorities, regardless of the administration in power. Anyone who’s lived inside this world as long as I have wouldn’t bet against the government at large just keeping calm and carrying on.”

Chris Woodward, CEO, CTI Digital: “The UK’s relationship with the US may go through some turbulence now, as recent political moves have nudged us away from the traditional ‘special relationship.’ Despite this, the core of our partnership remains strong, and the bond will persist. The real challenge lies in our diverging economic paths: while the UK government leans into higher taxes and spending, the new US administration seems likely to pursue business-friendly policies with a focus on growth through deregulation and tax cuts. For us as an agency, the US election outcome isn’t the primary concern. Our focus is on navigating the investment and operational decisions impacted by domestic policy, as increased taxes and regulations here at home weigh more heavily on our business planning and growth strategies.”

Tom Stone, co-founder of Re:act: “Last night was quite a whirlwind. The word I’d use to describe the global atmosphere right now? Chaos. It’s a feeling many recall from Trump’s previous term, where unpredictability seemed to reign. Although his supporters might see this as his strength, from an economic perspective, it’s undeniably unsettling. If Trump’s back in office, we could be in for an even rockier ride than if we’d had a Democratic win. For the UK, the result hits close to home, highlighting our vulnerability now we’re outside the EU.

“A Trump win could leave us feeling more distant from the US and questioning if closer alignment with the EU is necessary, especially if the US reintroduces tariffs as part of an isolationist stance. There’s also the impact on our support for Ukraine. With Trump’s approach, we’ll need to think carefully about whether to stay aligned with the EU’s ongoing support for Ukraine.”

Richard Exon, co-founder, Joint: “After the 2016 Brexit Vote, in which he was on the losing side, London Mayor Sadiq Khan gave a powerful, unifying speech. His core message: when a critical vote goes against you, resist the urge to label the other side as ignorant or corrupt. He instead urged: strive to understand why millions might vote in a way you deeply oppose. Similarly, many in Britain and Europe are puzzled by Trump’s second victory, especially given the strengthened dollar and rising US stocks. Can economic concerns truly outweigh fundamental rights, such as a woman’s right to choose? Apparently so in USA 2024. So, understanding the trends and countertrends that led to this will be central to understanding US audiences, brands and culture for years to come.”

Barney Worfolk-Smith, chief growth officer, Daivid: “It’s hard to unpick personal and business, but from a purely business standpoint, what matters to us is the spending confidence of the US consumer. That will affect our business in the short and long term. The exit polls suggested that the economy was one of the biggest concerns for Republican voters, so democracy has chosen Trump’s economic policy. It looks like, in the short term, the banks were right to plan for a Trump win, so that’s some welcome stability. Long term, though, we know that there are question marks over the effect that tariffs will have on US consumers’ pockets. Also, there is absolutely no way of knowing how much of that will actually happen. Or whatever other madness is in store over the next four years, for that matter. Buckle up.”

Jack Maycock, associate strategy director, Shape History: “America is turning inward again – and we’ve seen this movie before. With Trump returning to the White House, we can expect a familiar playbook: tariffs, a focus on ‘America First’ and an intrinsic skepticism of international agreements. For businesses, this means more protectionist policies that could disrupt global trade and supply chains, particularly for those with international operations. Deregulation is likely to make a comeback, potentially lowering costs in some sectors but raising questions about long-term stability and environmental impact. While these policies might offer short-term benefits for some industries, the global business landscape could become more unpredictable, with fewer international partnerships and a more self-reliant approach from the US. It’s a return to a strategy many have seen before – and this time, the stakes are even higher.”