US president Donald Trump is continuing along the path towards protectionism, positioning himself to take advantage of more beneficial trade conditions for the leading global economy.
US tax reform
“I am “the king of debt”. That was very grandiose for me as a businessman, but it’s bad for the US. I made a fortune with debt, I will sort out the US”. This is the kind of tweet which would ruin anyone’s political career, with the exception of one person: Donald Trump.
Deutsche Bank’s shares fell again yesterday (-0,97% added to the 5.16% drop on Friday) after releasing a profit warning for the 2017 fiscal year. This is due to the negative impact of the tax reforms in the US and worse figures in investment banking as a result of low trading levels.
President Donald Trump signed on Friday the most comprehensive reform of the US tax system in more than three decades.The effects of the tax reform for each of the US economic sectors has been widely detailed by experts in the last months. Specifically BBVA Research have analysed Trump’s tax overhaul from the housing market’s angle.