The Trump effect: Must-reads about the US election
Business sectors and trade partners throughout the world may experience changes as a result of Donald Trump’s win in the US presidential election this week. Here is how publications from across the world describe the impact Trump may have.
Who wins and who loses: What Trump means for business
Rail companies, retailers, and restaurants are among the businesses that could benefit from Trump’s economic policies. Renewable energy providers could be among the post-election losers, according to The Guardian.
Trump’s election may benefit oil and coal
Trump’s promise to end US participation in global clean energy agreements could give the oil and coal industries a boost, according to the Huffington Post.
Pharma shares climb, hospital shares drop after Trump’s win
Fears of pricing regulation in the pharmaceutical industry were calmed in the wake of Trump’s win. But Trump’s promise to repeal the Affordable Care Act in the US may decrease the number of patients in governmental health plans and deliver a blow to the health-care industry, according to Fox Business.
Banking industry faces uncertainty with Trump
Having Republicans in charge of the White House and both houses of Congress could lead to less regulation and give banks a boost. But Trump has taken some positions that could challenge the financial services industry, The New York Times reports.
Trump tax plan could bring back billions in overseas profits
Trump’s proposal to tax repatriated profits at a low 10% rate could bring billions of dollars into the US. The top five companies with overseas cash, including Apple, Microsoft, and Cisco, will hold a reported $505 billion overseas by the end of 2016, according to Investor’s Business Daily.
What would Trump’s plan mean for corporate taxes?
Trump has proposed a sweeping overhaul of the US tax code, including much lower corporate tax rates and a one-time opportunity to repatriate overseas profits, Bloomberg News reports.
The US election was never pivotal for Mexico
Potential challenges around trade and investment between the US and Mexico could trigger a much-needed shift for Mexico from a trade-based economic strategy to one that emphasises “a unique path of development and value enhancement,” strategy professor Alejandro Ruelas-Gossi of the University of Miami argues in Harvard Business Review.
Trump poses challenges for Asia
Trump’s pledge to withdraw from the Trans-Pacific Partnership negotiations could benefit China (which was excluded from the pact), but harm other Asian countries. China also has been a target of Trump’s rhetoric, according to Voice of America.
Opinion: Global workforce movement may suffer
Promises by Trump to curb immigration and engage in “extreme vetting” of Muslims who want to enter the US could affect the global mobility of employees, according to the Chartered Institute of Personnel and Development.
Status of African trade deal a concern
The African Growth and Opportunity Act gives African countries access to the US market without tariffs. Trump’s election could signal an end to this agreement, according to African Business.
What a Donald Trump presidency means for Canada
Trump’s references to the North American Free Trade Agreement as the “worst trade deal ever” could spell trouble to Canadian exporters. But withdrawing from the deal won’t be easy for Trump or the US, CTV reports.