More than one-third of people want fewer foreign firms operating in their home country: report

[SINGAPORE] More than one-third of people would like fewer foreign companies operating in their home country’s market – even at the cost of higher prices and less choice – according to the 2026 Edelman Trust Barometer report. 

The survey collected data from more than 33,900 respondents across 28 countries – which included the likes of the US, Germany, China and Singapore – from October to November last year. 

This report will be launched at the World Economic Forum in Davos next week.

The widest gaps in trust between companies headquartered in “my (home) country” and those based abroad exist in Canada (31 points), Japan (29 points), and Germany (29 points), noted the Tuesday (Jan 20) report.  

Within China, the average trust level in domestic-headquartered companies scored 90 points, on a scale of 100. The level of trust in foreign-headquartered companies was also relatively high, at 73 points. 

Local-headquartered companies in the US received 60 points – on the cusp of the “neutral” and “trust” zones. There was also a general level of “distrust” in foreign-headquartered companies compared to those based in the US – at 44 points. 

This comes amid an eight-point increase, between 2019 and 2026, in concerns of how “international trade and tariff conflicts will hurt the company people work for”, showed data from Edelman’s report. 

Respondents also flagged a fear of foreign actors spreading disinformation to “sow domestic division” – a concern that rose by 11 points between 2021 and 2026. This worry also hit an all-time high this year in 15 countries surveyed. 

Another concern that has arisen in 2026 is job losses due to a looming recession. 

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At this juncture, more respondents have lost trust, than gained trust, in national leaders by 16 percentage points, based on Tuesday’s data across all the countries surveyed, excluding China. 

Trust in foreign business leaders has also dipped by six percentage points, indicated the report.  

Employer importance rises within local circle

As distrust in foreign actors rises, more trust is being placed in members in the workplace environs, stated the report. 

Respondent trust in their co-workers increased by 11 percentage points, while a rise in trust in one’s chief executive officer was also witnessed (up by nine percentage points) among employees. 

This also reflects an uptick in people prioritising their compatibility with their jobs and workplaces. 

Data from Edelman showed that four in 10 are unwilling to invest in companies that do not share their values. Additionally, 40 per cent of respondents also said they will not report to a manager with contrasting values.

Singapore-headquartered firms receive “neutral” level of trust 

Companies headquartered in Singapore received a 52-point ranking, on a scale of 100, in terms of foreign-respondent trust – securing a “neutral” level of trust on the Edelman Trust Barometer. 

This is on a par with US-headquartered companies – which has fallen by five points from 2025. 

The top position is held by companies based in Japan – at 66 points, up by one point from its result last year. 

Businesses with headquarters in Canada and Germany are next, each at 65 points, according to Edelman’s Trust Barometer this year. 

Other Asia-Pacific players fared poorly, with China-headquartered companies in the “distrust” zone at 44 points, though it has risen by a “significant” three points on the year, according to the report. 

Companies headquartered in South-east Asian countries such as Malaysia and Thailand were next, at 43 points.