ZEW President Achim Wambach: "Trump's Economic Plans Are Thin"

Republican Party nominee Donald Trump has won the election of the 45th President of the United States. The President of the Centre for European Economic Research (ZEW), Professor Achim Wambach, PhD, comments on the result of the U.S. Presidential Election.

"Donald Trump's presidency means that the U.S. population decided in favour of a candidate who stands outside the political establishment.

His plans for the U.S. economy are thin and show no clear policy rationale. On the one hand, Trump plans to expand infrastructure spending and cut corporate taxes as well as taxes for high income earners in order to boost economic growth. As a result, however, government debt will further rise; together with his plans to curtail U.S. trade with the world and to restrict immigration the economy is likely to slow down. The financial markets' reaction on the outcome of the election has been very negative.

With Donald Trump's presidency, uncertainty finds its way into U.S. politics."