GDS Investments' note to clients for the month of December 2024.
As we find ourselves a little more than a month out from the presidential election, any surprise from the outcome is settling, and we are starting to get more insight into President-elect Trump’s stated plans. Specifically, he has announced blanket 10% tariffs on goods imported from China and 25% tariffs on Mexico and Canada. He has also put forth several names for key economic positions, including:
- Hedge fund founder Scott Bessent for Treasury Secretary
- Investment banker Howard Lutnick for Commerce Secretary
- Economist Kevin Hassett as Director of the National Economic Council
- Attorney Jamieson Greer as U.S. Trade Representative.
His tariff proposals give us pause, but many of these nominations are more conventional than might have been initially predicted....
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