Opening remarks

Navigating Global Economic Shifts: Tariffs, Tech, and Trade Diversification at Web Summit Lisbon 2025

The Economic Policy Summit stage at Web Summit Lisbon 2025 commenced with an introduction to critical global economic discussions. The agenda includes geopolitical ripple effects of Trump-era tariffs, evolving frameworks for regulating big tech, and policy engines driving innovation and entrepreneurship. Further topics explore the potential of a four-day work week to redefine productivity and the economic impact of Gen Z taking over the reins.

Mr. Kim Zietlow, Head of Investment Promotion for Invest Hong Kong’s Berlin office, welcomed attendees. In his role, Mr. Zietlow frequently assists European companies and startups looking to expand into the Asian market. He noted that many of these businesses are directly impacted by the very topics scheduled for discussion at the summit. This marks his fourth attendance at Web Summit.

Just prior to Web Summit Lisbon 2025, Mr. Zietlow was in Hong Kong, where he participated in the region’s largest innovation and technology events: Hong Kong FinTech Week and the Start Me Up Festival. These events achieved significant success, attracting 45,000 participants from over 120 countries, featuring more than 1000 speakers, and hosting over 30 international delegations.

Beyond the official events, Mr. Zietlow dedicated time to gain firsthand insights into the concerns of businesses. He conducted meetings with over 50 European multinational companies and SMEs. These discussions focused on their perspectives regarding Hong Kong, the broader Asian market, the influence of AI and innovation from mainland China, and the future trajectory of global trade and investment.

Despite the acknowledged negative effects of tariffs, such as supply chain disruptions and market insecurity, Mr. Zietlow shared two positive observations. Firstly, he highlighted that not all entities are affected by US tariffs. These tariffs primarily apply to goods entering the United States, not services, leaving many other countries and sectors not directly impacted by these specific trade measures.

His second observation noted a global trend towards diversification. Many countries are actively expanding their trading partners and establishing new trading networks. This involves strengthening existing relationships and exploring new avenues, reducing reliance on a single major economy. Mr. Zietlow views this diversification as a healthy development for the global economy, fostering reduced dependency and risk.

The discussions underscore the timely importance of examining the impact of Trump-era tariffs and their implications for a new world order. This critical topic forms the core of the day’s inaugural panel. The session will feature moderator Anna Johnson, alongside panelists William Hurst, Angeli Patel, and Portugal’s Minister of the Presidency, Antonio Lettao Amaro.