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|Comment: Trump's Inauguration unlikely to change the short-term economic outlook in the UK|
|Monday, 23 January 2017|
“Generally speaking, the inauguration of Donald Trump as US president likely doesn’t change the economic outlook for the UK. While there are hopes that Trump would grant the UK preferential treatment in potentially upcoming free trade discussions, such a deal would take many years to complete and would hence only influence the UK’s long-term outlook, at best. Dun & Bradstreet will monitor the new president’s first months in office closely but, for the time being, expect little to no spill-over effects from the US.
“The looming invocation of Article 50 and the British government’s ‘hard Brexit’ plans will remain the top political event for the UK’s risk rating in the foreseeable future; Dun & Bradstreet’s recently downgraded the UK economy’s risk rating, ranking it joint second-worst among G7 powers. Theresa May’s decision to prioritise immigration over access to the single market has been positioned by the PM as a positive opportunity to secure deals with other continents, outside of the EU, such as China, India and the US. Trump has already expressed a strong approval of the Brexit result, although his promise to strike a quick transatlantic deal with the UK is not guaranteed. For now, the UK should expect little economic impact from Trump but all globally operating businesses must prepare for the economic shifts that will come from the world’s biggest economy and Brexit.”
Markus Kuger, Senior Economist, Dun & Bradstreet
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