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Trump Inauguration Speech Highlights

01/20/17

Donald Trump, the 45th President of the United States, noted the following economic issues in his inaugural address on Friday.

 “The establishment protected itself but not the citizens of our country, their victories have not been your victories,”
 “For many decades we have enriched foreign industry at the expense of American industries”
 “One by one the factories shutted and left our shores.”
 “From this day forward a new vision will govern our land, from this forward it is going to be only America first, America first” “We must protect our border from the ravages of other countries”
 “We will bring back our jobs, bring back our borders, bring back our wealth, bring back our dreams”
 “We will build new roads and highways and airports and tunnels and railways”
 We will eradicate radical Islamic terrorism “completely from the face of the Earth.”
 “We will seek friendship and good will with the nations of the world, but we do so with the understanding it is the right of all nations to put their nations first.”
 “Together we will make America strong again, we will make America wealthy again, we will make America proud again we will make America strong again, and yes, we will make America great again.”

Economic & Market Implications

President Trump laid out, in broad terms, his aspirations and goals for his presidency over the coming four years in his inaugural address.  It’s clear that his plans are both ambitious and far-reaching in their possible implications for the U.S. economy and markets, and by implication for the rest of the world including Canada.  However, it should also be clear, given a lack of detail to date in these plans and the likely deep opposition to many of his proposals, that the degree to which his plans materialize and their possible timeline remain extremely uncertain at this point.

We expect global markets will be intensely focused on what is said and what is achieved over the first 100 days and beyond of this presidency.

 

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