On 8th of November 2016, when US was counting votes, India was tackling the demonetised notes. Interestingly, the outcome of both the incidents has been extraordinary. For instance, Indian banks have been flooding with the unprecedented deposits whereas the US has been celebrating the win of its Republican leader Donald Trump who has made several election promises much against the interest of its allied countries. However, things are still to move in harmony with the promises made since Trump is scheduled to assume office in January 2017.
However, the markets around the world have been abuzz with speculations on what will be the biggest change with Trump winning the US Election. Honestly speaking, nobody has a definite clue on the same. However, from the poll promises made by Donald Trump, we can fairly presume to see many changes happening around the world.
Key changes expected with Trump’s Win:
- Industry-friendly tax structure: Since long American companies were crying, foul in view of the whopping corporate tax structure in US. Trump has assured to bring down the corporate tax rate to 15% from its current 35%-mark. This will have a far-reaching effect on US based companies having business operations outside the US. Therefore, it can be seen as a ploy to get the entire business operations back to US by the US companies. This will eventually create more employment opportunities for the people of US.
- More employment for the US citizens: In his poll campaign messages, Trump recommended a slew of measures with the objective of curbing the menace of unemployment in US. He said, he would put in place strict outsourcing rules so that the companies having headquarters in US prune their outsourcing endeavours to the minimum. This will call back most of the jobs in US. In other words, without investing further on the commercial establishments, job opportunities in US will grow. Trump thus plans to secure the future of the America’s Gen Y.
- Stricter work visas: The President Elect Donald Trump announced stricter policies on work visas. This will adversely affect the foreign nationals working there in US. For instance, H-1B visas are the work visas issued to the foreign nationals working in US. Therefore, in the case of new guidelines coming into effect, you will see bad days for the expats in US whereas Americans will stand to gain immensely.
- Backlash on terrorism and terror funding: It is fairly palpable that Mr. Donald Trump will push the agenda on anti-terrorism that has caused a potential damage to the nation’s prestige and dignity with the militant attacks on the twin towers, commonly referred as 9/11 attack.
However, Trump has bigger plans for the international politics. For instance, Trump is believed to ease the tension with Russia and in consequence, the Nato alliance is likely to face a shakeup. Again, he is in favour of re-thinking the nuclear deal with Iran and re-negotiating business agreements with the US allies. In short, only time will tell the truth on what will be the biggest change with Trump winning the US Election. Till then, wait and watch.
