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ZEW President Achim Wambach on the US Presidential Election 2016

Date

09 Nov 2016

Sections

Global Europe

"Trump's Economic Plans Are Thin"

Republican Party nominee Donald Trump has won the election of the 45th
President of the United States. ZEW President Professor Achim Wambach, PhD,
comments,

"Donald Trump's presidency means that the U.S. population decided in favour
of a candidate who stands outside the political establishment.

His plans for the U.S. economy are thin and show no clear policy rationale.
On the one hand, Trump plans to expand infrastructure spending and cut
corporate taxes as well as taxes for high income earners in order to boost
economic growth. As a result, however, government debt will further rise;
together with his plans to curtail U.S. trade with the world and to
restrict immigration the economy is likely to slow down. The financial
markets' reaction on the outcome of the election has been very negative.

With Donald Trump's presidency, uncertainty finds its way into U.S.
politics."

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