The New Trump Administration: Will It Bring Change for Manufacturers in 2017?
Will 2017 become known as a pivotal year? Will President-elect Trump's strong background in business be a plus - or a minus? While Americans seem to have discharged their emotions over the election, the number of questions is rising. Businesses - including manufacturing - speculate about the future and the nation waits to find out what will place first on his agenda. With all that was said during the campaign, Trump has been advised to “leave his business life in the past,” in a proper separation and concentrate on the concerns of the country. Affirming this promise, Mike Pence, Vice-President-elect, assured the media on CBS’s Face the Nation that Trump would have no conflicts of interest when he begins his term. During this time of transition, experts are speculating that the industries of defense, coal, oil drilling and fracking, gas, banking, pharmaceuticals, construction and industrial equipment will be industries that benefit from Trump’s plans. This speculation occurs as Trump has discussed beginning extensive repair of roads and bridges, and rebuilding the nation’s military and defense capabilities. Some assert he will repeal both the Dodd-Frank Wall Street Reform and Consumer Protection Act (which places regulation of the financial industry under government control), and the Affordable Care Act. Trump also could modify foreign trade agreements as during his campaign, he spoke of making a favorable climate and tax structure to promote new business in the U.S. and reduce further offshoring. If Trump’s policies go as some suggest, there will be a change in the market for sure. Only the months ahead will reveal which changes will truly benefit manufacturers and industry. As this year closes, we remember and thank those who have been a part of our lives at MPS Technical. We appreciate being a small portion of your success and a strong resource you can count on for your continued staffing needs. We look forward to facing the challenges of the future and the possibility of positive changes that will grow us forward. We’re here whenever you need us. Let’s talk today.