Martin Sorrell: US election result like a second Brexit

WPP’s chief executive Sir Martin Sorrell has described the US presidential election result as “effectively a second Brexit” – and said that it will take a “significant amount of time” to assess the long-term implications.

In a statement released on Wednesday morning, when it was announced that Republican Donald Trump had beaten Democrat Hillary Clinton to become the 45th president of the United States, Sorrell said it had left “many very surprised, including the markets and me.”

“Clearly immigration, trade and terrorism were key issues that swayed electoral opinion in a very significant way, just as they did in the UK, and probably will in the European referendum and elections to come.”

Sorrell said increased levels of uncertainty will mean more hesitation to make important decisions in the short-term, both by people and governments; however, he said the result may accelerate implementation of helpful reforms in the medium term to reduce uncertainty and stimulate investment as a result.

“There will now be a lot of reassessment, including of polling techniques,” he added. “Electorates at times like these clearly don’t like to be told how they’re going to vote, especially by the media and other elites.”