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Global Economy Affected By President Trump

Global Economy Affected By President Trump

June 22, 2021 16:16
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The modern world is interlinked and change in one part of the nation affect the other. As compared to the earlier time when broadcasting information to many people was difficult but today, thanks to state of the art technology, we have new tools and devices that has made everything easy. Stock ticker tapes or financial ticker tapes are one of the most prominent ways to display changes in the economy. The financial ticker tapes  of the news channel were filled with news about the new US president Donald Trump. Being the representative of the Republican Party a lot is being expected from Mr. Trump but as they say with new government comes new changes, America will surely see some new policies and reformations of the old ones which are going to affect not only the US economy but the global economy as well.

Well, we all know that it's not until late January 2017 when Mr. Trump will have complete authority to take decisions and make some affirmative changes, this has created a lot of unrest in the market and the uncertainty will show its impact on the ticker tapes of the stock market. Apart from the risks in the stock market and anticipation amongst the investors, the American economy is sure to dwindle till the time the new President of America declares his financial policies for the coming time.

Since the team of election campaigns, Mr, Trump’s economic policies have not been a detailed one but what is expected with his governance includes the following:

  • Slashing down the tax rates
  • More focus defence and expenditure
  • Deportation of large number of immigrants

Apart from the economic front, Trump’s victory will also bring changes on other fronts like:

  • Millions of Americans might lose their health insurance
  • Slicing the Federal corporation tax rate by more than half from 35pc to 15pc

Let's shift our focus on the US economy and its correlation with the US economy:

We all agree that US economy is big but when it comes to global economy it is larger.

It is expected that the world's GDP will now increase 3.3% next year, this forecast has been forecasted by OECD .This Paris-based organization is expecting a growth in the US economy and one the key influencer of this will be certain new policies which will be framed by  Donald Trump.

How Will Trump’s victory impact different nations?

Undoubtedly, the victory of Donald Trump has ushered an era of uncertainties in the business world. The trade will no more be the same. Talking about his promises during the election campaign , if Mr. Trump sticks to what he said then the nation's trading in the US may face high tariffs on goods; these includes countries like Mexico, China, and (potentially) the EU, Japan, and Korea . These nations may feel the axe falling on their production network and business ecosystems.

The good would be for the US economy where it is expected that President Trump will be following protectionist policies but the worst scenario that is expected is a trade war between America and China, even if the trade war doesn’t happen, the protectionist policies will surely impact the many foreign subsidiaries including China who trades in America.

Coming to Brazil, the country was making a timid recovery from deep recession, high inflation, fiscal disarray and, ultimately, to the impeachment of a president but now is ready to face the impact of the President Trump’s new policies which are expected to be pro-American. Although Brazil’s GDP doesn’t much depend on exports yet it contributes to only 11% but this is very less when compared with Mexico and Chile where exports account 36% and 26% respectively.

All-in-all it can be said that Trump’s victory is surely going to bring new changes some good and some bad but for that, we need to wait until January 2017 when he will have all the power to take decisions.

 

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