Trump set to take stage in Davos shortly

by | 26 Jan, 2018

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Trump will hope to sell story of U.S. success in today’s speech

The eyes of the world will fall upon the World Economic Forum in Davos today, as President Trump is set to make a speech at 8:00AM Eastern Time.

The President will be the first U.S. leader to address the star-studded event since Bill Clinton almost 20 years ago and is expected to deliver an ‘America first’ speech which will likely detail his wish for what he calls ‘fair and reciprocal’ trade with the worlds largest economy.

The speech is expected to focus around U.S. economic success under his leadership, particularly the fact the stock market added over $5.2 trillion since the election in November 2016, as well as the passing of the Republican tax reform plan, which has ended up having a notably positive effect on many U.S. businesses, encouraging them to re-invest in America and treat their employees to pay rises. 

However the irony will not be lost on many that the topic of this years WEF at Davos is “Creating a shared future in a fractured world”, while many of Trump’s policy choices have gone some way to disrupting global harmony, including placing tariffs on Chinese products in a move some are seeing as the start of a trade war between the 2 superpowers, recognising Jerusalem as the capital of Israel and upping the rhetoric around the North Korean problem. 

Regardless, Trump seems to have softened his stance on other economic issues including major trade deals like the Trans-Pacific Partnership. In a CNBC interview ahead of the speech he said: “I would do TPP if we were able to make a substantially better deal. I would be open to TPP.” This reflects a changing attitude from the President which is likely to confuse those who saw him as only an isolationist due to his protectionist rhetoric. 

So far, Trump seems happy with his reception at the event, with an official in the U.S. delegation saying: “He’s very pleased with the reception he’s had.” The President also had the chance to sit down for dinner with European business leaders from some of the biggest firms like Deloitte, Bayer, Adidas, HSBC, Nokia, Volvo and more, who praised tax cuts and deregulation, in a scene reminiscent of cabinet meetings in Washington, where officials lavish praise upon their boss.

Related: The super-rich head to Davos for the 2018 World Economic Forum

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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