On November 7, 2024, analysts anticipate that Donald Trump, upon his inauguration as the 47th president of the United States on January 20, will swiftly implement several of his proposed economic policies. Among these, the imposition of tariffs is expected to be a priority, particularly targeting imports from China and other key trading partners such as Canada and the European Union. Trump has previously indicated plans for tariffs ranging from 10% to 20% on imports, with a potential 60% on Chinese goods.
European stock markets reacted to these anticipated tariffs, with notable declines in shares of major German automotive manufacturers like Mercedes-Benz and BMW, which fell approximately 6.5% each. Economists warn that Trump's tariff strategy could lead to significant disruptions in the global trading system.
In addition to trade policies, fiscal measures are projected to dominate discussions in Washington, particularly with the expiration of existing tax cuts and the need to address the debt limit. With Republicans gaining control of the Senate and potentially the House of Representatives, timely passage of fiscal policy changes is anticipated.
The immigration policy under the new administration is expected to become more restrictive by mid-2025, focusing on lowering refugee admissions and reinstating the Migrant Protection Protocols, which would compel asylum seekers to remain in Mexico during their immigration proceedings.
Furthermore, Trump is reportedly considering appointing former Director of National Intelligence John Ratcliffe as the new head of the Central Intelligence Agency, signaling a potential shift in leadership priorities within the intelligence community.