Inflation pain helped secure Trump win but his policies mean higher prices
Markets expect his policy package to harm trade and growth but reduce business taxes
Financial markets were poised for days of uncertainty waiting for the final result of the US presidential election to become clear, but in the end it wasn't even close. Donald Trump won comfortably and the reaction in the markets to his return to the White House in January was swift. Share prices rose. The US dollar strengthened. Interest rates were expected to stay higher for longer and it became more expensive to service US government debt.
The moves in the markets were also entirely predictable. The man who will become his country's 47th president has made no secret of what he plans to do: cut taxes, impose heavy tariffs on imported goods, curb migration and slash red tape.
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