A dealmaker’s advice to Keir Starmer: Remember Trump’s not a caricature
Ahead of Keir Starmer’s pivotal meeting with President Trump, dealmaker Guy Hands gives his best advice on the art of the deal
Dear Sir Keir Starmer,
Today you have the most important meeting of your life. Britain and most of Europe are relying on you to come out of the meeting with President Donald Trump with a positive result and a strong relationship. However, the America of today is very different to the America of the past: it sees its role on the world stage differently. The relationship you are looking to forge with the President therefore cannot follow the same rules as that of your predecessors.
Trump doesn’t play politics by conventional rules – instead he cuts deals, deals that he thinks are beneficial for the US. As a dealmaker you are only as good as your last deal and the people you deal with are only as good as the deals you do with them. I learnt this lesson as a trader at Goldman Sachs and felt the full force of it when my EMI deal went wrong. You need to understand that the number one art of a successful deal (having spent a lifetime making and failing to make them myself) is being 100 per cent clear on what you are trying to achieve and getting the timing right. Now is your time to surprise everyone and get close to Trump in spite of the fact that on the face of it you couldn’t be more different.
Trump has very clear objectives and he follows them through at any cost. You need to handle his plain talking approach and find ways forward that are mutually beneficial for America and Europe. He had the proverbial landslide – don’t ever forget that – it matters. But what also matters is recognising that the US no longer naturally sees itself as the policeman of the world. You need to be realistic in what you are asking for and understand that Europe will likely need to step up to defend itself. The 2.5 per cent increase in military spending is important step forward but given the need for a strong and unified Europe we should go further and commit to three per cent.
The second lesson is that you must understand that you’re dealing with someone who is completely different from you. You need to focus more on understanding the person. What makes Trump tick? What does he want to hear? What are his objectives for America and what are his objectives for himself? A strong America is only good for the UK and Europe if he sees us as friends. It will be bad if he sees us as irrelevant. Like most of us, he likes to be liked, admired and above all respected.
Lesson number three. People remember how you make them feel over what you say. Trump likes brevity. He doesn’t follow convention. Many consider him crass. But getting on with him matters – full stop. This is not the time to be intellectually or morally superior or to win points. It’s the time to cement the transatlantic alliance amidst the unpredictable and ever-changing geopolitical landscape.
This is the moment to connect with Trump as a human being. Forget how some commentators, politicians and the media paint him. Trump is not a caricature – he is far more complicated and far more unsure of himself than you think. In the same way that you are not as grey or out of touch with the public as some try to frame you. Both of you have the burden and problems of office and the issue of who to trust and how to get your agenda through so look for your similarities and joke about them, get on his wavelength and you will succeed.
Good luck Prime Minister – the fate of the UK and Europe over the next 20 years is depending on you.
Best wishes,
The Dealmaker