The uncertainty of Trump's stewardship with regards to the American economy has driven people across the nation fearful about the long-term effects of the incoming Administration. Considering that technology is a key component not only of the US market but also of the global financial realm, there is a reason to be truly concerned about the situation.
Tech firms are usually rated in American dollars. With that said, anything that the new President will implement, alter or eliminate brings repercussions to the currency.
A lot of people have questioned Trump's economic policies since he decided to run for President. The truth is everyone is still talking about it even after he won the presidency. With all the concerns, the American public, notably the working class, have pinned their hopes on pre-election pledges of the real estate businessman. Both the workers and the firms anticipate that jobs will open up across the US. Outsourced occupations have depleted the working class of opportunities to find employment.
The US government knows fully well that many American organizations keep offshore accounts. It is so due to the glaring 35 percent tax being imposed against them. If Trump manages to fulfill his 10 percent repatriation holiday, then it is likely that the nation's coffers will be filled to the brim.
This approach will allow tech firms to bring back the dough from overseas. In the event that these financial resources will be stashed back into US accounts, potential acquisitions and mergers will probably happen considering that funding is now in place to create jobs and projects.
However, a deterrent is associated here. Considering that Trump is very much against the issuance of H-1B visa, it is likely that the cancellation of the document will deny talented foreign workers in accessing US jobs.
Meanwhile, anything that will impact the auto industry can also be felt by a tech company. The integration of technology into vehicles has made the situation possible. Due to manufacturing location needs, the automobile enterprise is shifting jobs to Mexico from the US. Another reason for the move is the federal government's tight environmental directives.
Trump has cautioned the auto industry about outsourcing. Should these companies become persistent, most of them will run into a brick wall considering that the US government has subsidized the enterprise for a lot of stretches.
While the market figures dropped globally after Trump won the presidency, his assurances and peace-making speeches have somewhat alleviated the fears of financial ruin.
