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MetLife Investment Management

How a second Trump presidency might affect markets

19. March 2024

“Under a second Trump presidency, we expect international trade policy to come into focus again.”

How a second Trump presidency might affect markets

After dominating Super Tuesday, a second Trump presidency becomes even more likely. In a recent market analysis, MetLife Investment Management assesses how a second Trump presidency might affect the US economy, key economic policies, and its relationships with China and Europe.

“There are substantial changes to the economic landscape in 2024 when compared with when President Trump took office in 2016. Some could constrain a second Trump presidency, while others would help further his expected agenda,” says Tani Fukui, economist in MetLife’s Global Economic & Market Strategy team.

She points, for example, to the difference in climate-related economics. According to Fukui, private investment in climate change technology in the US has increased since 2016, thus suggesting that companies could significantly influence any abrupt shifts in climate-related policies.

“President Trump’s focus on domestic manufacturing and his push to wean the US from Chinese imports have been furthered by President Biden. We would expect President Trump to push these causes substantially farther, given their broad support among American voters,” Fukui further notes.

Download the full insight here.