How Could the Trump Administration’s Policies Affect Your Portfolio?

Since assuming office, U.S. President Donald Trump has labeled illegal immigration a national emergency. His administration has intensified mass deportation efforts, broadening the use of expedited removal. While opinions vary on the potential economic consequences, the impact of deportations will almost certainly depend on the scale. Most illegal immigrants seek economic opportunities, often working for lower wages than legal immigrants and U.S. citizens. If deportations reach hundreds of thousands, the economic effect will be minimal, but removing millions could negatively impact U.S. GDP, particularly in states like California, Florida, and Texas. On corporate taxes, Trump proposed lowering the rate from 21% to 15%, which would boost company profits and stock values. However, this proposal is well known, and market participants have likely incorporated the estimated odds of a corporate tax reduction into current prices.

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