0847 ET - Swedish tech giant Ericsson donated $500,000 to President Trump's inaugural committee, its first ever such donation. Explaining the contribution, CEO Börje Ekholm says, "We are a critical provider of infrastructure in the U.S. So ... it's critical to have a natural relationship with any administration." Ekholm, who spoke on the sidelines of the World Economic Forum in Davos, says it's too soon to say what impact Trump will have on the business environment, but "the mindset of actually simplifying, reducing the regulatory burden will be positive for the economy." Ekholm has been a vocal critic of the regulatory burden in Europe, and says "it's really important Europe move along the same lines as the U.S." Asked if Ericsson would move its head office to the U.S., Ekholm says, "We are Swedish based. But I think every company in Europe will need to think about this going forward." (greg.ip@wsj.com)

(END) Dow Jones Newswires

January 21, 2025 08:47 ET (13:47 GMT)

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