US policy shifts - Tariffs, deregulation and possible dollar depreciation

There is a push to get tax cuts expanded in the first 100 days of the incoming administration, however our legislative liaisons believe it will be 2026 before any major tax cuts are implemented, writes KPMG US Chief Economist Diane Swonk.

The Republican sweep of the United States’ (US) White House and Congress has altered the economic outlook. Our baseline pre-election only included an extension of personal tax cuts in 2026. No other policy shifts were assumed, given the uncertainty surrounding the outcome of the election. We are now phasing in new policies of the incoming administration into our baseline forecast. The largest issues for voters were inflation and immigration. The US is not unique on that front. Infl...

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Authors: Diane Swonk

Published Date: 18 November 2024