Entry to US markets might be simpler for British corporations beneath a “pro-business” Republican president, consultants have informed the outlet
British enterprise would like to see Republican nominee Donald Trump prevail over Vice President Kamala Harris within the US presidential election in November, Politico has reported, citing finance consultants from the Metropolis of London.
Whereas there are considerations {that a} Trump presidency may carry a protectionist strategy in the direction of international commerce, his “laissez-faire” insurance policies may make entry to the US market simpler for British corporations, the outlet stated on Tuesday. That is one thing the Metropolis of London is reportedly searching for because it seeks avenues for progress after shedding a serious share of its EU enterprise after Brexit.
“You might have a White Home that will wish to have a much less restrictive regulatory framework for monetary companies, which could not directly engender extra monetary flows throughout the Atlantic,” a senior UK monetary lobbyist informed Politico on situation of anonymity.
A senior Metropolis of London lawyer described Trump as “pro-business,” noting that Harris’ insurance policies are anticipated to be “much less useful” to British enterprise. Although the previous US president was “wild and unpredictable” in his first time period, his monetary insurance policies “didn’t result in a run on the greenback or any main issues in monetary markets despite the fact that quite a few his insurance policies had been controversial.”
In the meantime, a Harris presidency is “the massive unknown” and her financial agenda reportedly entails attacking huge enterprise for alleged value gouging, in line with the lawyer.
Earlier this month, Trump blasted his Democratic rival over the present administration’s document on inflation, which has constantly remained at over 3% since Joe Biden grew to become president.
Metropolis of London consultants additionally hailed the appointments to prime regulatory roles Trump made throughout his first time period, highlighting their competence and expertise within the business.
Beneath the Trump administration (2017-2021), former Goldman Sachs govt Steven Mnuchin was appointed secretary of the Treasury, whereas Randal Quarles, a non-public fairness investor and Treasury veteran, was given a key banking oversight place on the Federal Reserve.
“The political appointments decide the political agenda by way of commerce for monetary companies and extra,” Angus Canvin, director of worldwide affairs at UK Finance, which represents British banks, informed Politico.
Trump and Harris are presently neck-to-neck in most polls, with Harris holding a slender lead over the previous president, in line with latest surveys.
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