Patricia Buckley, Managing Director for Economic Policy and Analysis, Deloitte
The election of a new US president, particularly one of a different political party than their predecessor, comes with the expectation of a shift in policies. Among the changes that President Trump is advocating are the repeal/replacement of Obamacare, lower corporate and personal tax rates, increased federal infrastructure spending, a change in existing trade deals, increased immigration enforcement, and a reduction in regulation. The fact that the President’s party controls both houses of Congress increases the odds that some of these proposals will indeed become reality in some form, although the details and timing are unclear at this point. Also unknown is how these changes will be paid for.
Each of these possible policy shifts will shape the US economic outlook generally, and the manufacturing sector specifically, going forward. This keynote will discuss some of these proposals in the context of the existing trends that continue to shape the US manufacturing sector. Since the specific form and timing that these policy objectives will take have yet to be determined, there remains substantial uncertainty to the outlook in the near to mid-term. However, this discussion will give attendees a framework they can use to evaluate probable impact of any enacted policy changes on their businesses once the details are decided.