With the U.S. election less than a month away, the outcome could have significant implications for various sectors of the economy, including airlines, banks, electric vehicle makers, healthcare companies, media firms, restaurants, and tech giants. Former President Donald Trump focused on slashing the corporate tax rate, imposing tariffs, and reducing regulation during his last term. In contrast, Vice President Kamala Harris supports hiking the corporate tax rate and continuing President Joe Biden’s policies.
The implications of the election will become clear once the winner begins appointing key bodies such as the Treasury, Justice Department, Federal Trade Commission, and Consumer Financial Protection Bureau. For airlines, a Harris administration might lead to more consumer protections, while under Trump, mergers may be more favorably viewed. In the banking sector, a Trump win could result in a rollback of regulations imposed by the Biden administration, such as reducing fees and revising risk frameworks.
The future of electric vehicle regulations and incentives is uncertain, with Trump likely to oppose EVs, while Democrats like Harris historically support them. In healthcare, efforts to lower costs, particularly prescription drug prices, are important for both candidates. For media companies, mergers could face challenges under a Biden administration, while TikTok’s future remains uncertain. Finally, in the tech sector, the focus is on AI regulation, cybersecurity, and antitrust issues, with differing approaches expected from Harris and Trump. Overall, the election outcome will have wide-ranging implications for various sectors of the economy.
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