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Trump's victory sparks optimism in US business community
10-12-2024 12:09
Trump's victory sparks optimism in US business community
Trump's victory sparks optimism in US business community

American business owners are exuding confidence and optimism following Donald Trump's election as US president. According to Bloomberg, the Republican's victory has sparked hope for a brighter future among American companies.

Analysts observe that US entrepreneurs are now anticipating positive changes and regulatory relief. However, this outlook contrasts with the views of some Wall Street economists, who predict slower economic growth in the United States. They are concerned about the potential negative impact of tariffs on imported goods, a measure Trump has repeatedly threatened to impose.

"The business community grabbed on to the Republican win," ISM Manufacturing Business Survey Committee Chair Timothy Fiore said, noting that companies expect positive shifts. According to a survey of manufacturers in Philadelphia, business activity and order prospects have risen to their highest level since mid-2021. In Kansas City, expectations for capital spending over the next six months are the strongest since 2022. This sentiment is shared by chemical industry representatives in Texas, who believe that Trump's presidency will benefit all US businesses in the long run.

Earlier, Stefan Gratzner, managing director at JPMorgan Private Bank, stated that the first two years under the new administration would be "highly productive." However, this scenario requires reforms in cryptocurrency, taxation, and deregulation, he added.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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