Trump’s Economic Agenda: Asian markets turn negative
The president’s lack of detail on his economic plans led the IMF to cut its 2017 and 2018 US growth projections
PHOTO: REUTERS
HONG KONG:
Asian markets turned negative Wednesday as Republicans’ struggle to push through controversial health care legislation fueled concerns about the chances of Donald Trump passing his much-vaunted economic agenda. Global markets soared in the months after the tycoon’s November election victory as traders bet his plans to slash taxes and red tape while ramping up infrastructure spending would fire the world’s top economy. But his failure to pass an overhaul of Obamacare - a key campaign promise - despite his party controlling Congress has led many to question his ability to deliver major promises. The president’s lack of detail on his economic plans led the IMF to cut its 2017 and 2018 US growth projections. All three main indices on Wall Street ended sharply lower and the losses filtered through to Asia.
Published in The Express Tribune, June 29th, 2017.
Asian markets turned negative Wednesday as Republicans’ struggle to push through controversial health care legislation fueled concerns about the chances of Donald Trump passing his much-vaunted economic agenda. Global markets soared in the months after the tycoon’s November election victory as traders bet his plans to slash taxes and red tape while ramping up infrastructure spending would fire the world’s top economy. But his failure to pass an overhaul of Obamacare - a key campaign promise - despite his party controlling Congress has led many to question his ability to deliver major promises. The president’s lack of detail on his economic plans led the IMF to cut its 2017 and 2018 US growth projections. All three main indices on Wall Street ended sharply lower and the losses filtered through to Asia.
Published in The Express Tribune, June 29th, 2017.