Key take away Trump’s speech July 18, 2024

  1. Trump’s Promise of Aggressive Immigration Policies: Trump’s firm stance on immigration could potentially affect labor markets, particularly industries that heavily rely on immigrant workers. This could disrupt certain sectors such as agriculture, construction, and hospitality, potentially leading to a rise in labor costs.
  2. Economic Nationalism: Trump’s focus on bringing back jobs to the U.S., especially in the auto industry and manufacturing sectors, could boost these sectors if successfully implemented. The potential tariff imposition on foreign-made cars might affect the auto industry worldwide and could lead to trade tensions.
  3. Changes in Trade Deals: Trump’s mention of USMCA and his trade deal with China highlights his focus on renegotiating trade deals to benefit the U.S. economy. This could lead to shifts in international trade relationships and potential uncertainty in global markets.
  4. Tax Cuts and Economic Relief: His promise of massive tax cuts for workers could potentially stimulate consumer spending. However, it could also cause a significant increase in the federal deficit. His plan of “no tax on tips” could significantly affect the hospitality sector.
  5. Strong Military Stance: Trump’s assertion of a strong military, but no more wars, could potentially affect defense spending and the stocks of defense companies.
  6. Attitude towards “Woke” Culture: Trump’s comments about the military not being “woke” might indicate potential policy changes regarding diversity and inclusion efforts, which could have implications for businesses and workplace policies.
  7. Stance on Global Respect: Trump’s recounting of Hungary Prime Minister Viktor Orban’s praise and the claim that under his leadership the world was at peace, suggests his approach to foreign relations focuses on assertiveness and dominance. This could impact international relations and global stability, affecting international markets.
  8. Focus on Domestic Manufacturing: Trump’s intent to bring manufacturing jobs back to America could potentially stimulate the domestic manufacturing sector, but could also lead to tensions with countries like China and Mexico, which could affect global supply chains.
  9. Reduce drug prices: Can impact Pharmaceutical companies.