Business leaders in the region reacted cautiously to Donald Trump’s victory, but with concern over uncertainty resulting from his election offset by hopes it could help secure a post-Brexit trade deal with the United States.

Richard Tunnicliffe, the CBI’s regional director for the East of England, said the organisation had been watching the race for the White House closely and congratuated Mr Trump on becoming president-elect.

“As the UK and the USA’s economic special relationship continues to go from strength to strength, we hope that the president-elect is committed to building on, and developing, this unique political and trading partnership,” he said.

“Firms in the East are keen to understand more about the president-elect’s trade policies. Following the UK’s decision to leave the European Union, we need to do everything we can to make it easier to trade, invest and drive prosperity on both sides of the Atlantic.”

Graham Kill, Suffolk chairman for the Institute of Directors, said the election result would add to the uncertainty in what was already a volatile situation, but added that the Trump presidency could help British exporters.

“His umbrella message on trade appears to be ‘America first’ but, following the Brexit vote, there might be an opportunity for Britain to strike early and negotiate a deal with the US, which could then help to secure other deals,” he said.

A University of Essex academic warned that firms following business models relying on “predictability and continuity” will be weakened by the election of Donald Trump as US president.

Geoff Wood, dean and professor of international business at the Essex Business School, said a period of sustained policy volatility would feed into markets, strengthening the position of those happy to gamble with their assets over more patient investors and traditional managers and stakeholders.

Any “bonfire of environmental regulations”, shifting focus away from renewable energy, would futher add to volatility in commodity prices, he added.

“Again, this will further weaken firms whose business model relies on predictability and continuity,” said Prof Wood.