UK bankers hopeful for Trump's White House return – Politico
Donald Trump’s laissez-faire policies would provide UK companies with improved access to US markets, according to Politico. Read Full Article at RT.com.
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Access to U.S. markets is anticipated to become more favorable for British companies if a “pro-business” Republican president takes office, experts have conveyed to Politico.
According to finance specialists from the City of London, British businesses would prefer Republican nominee Donald Trump over Vice President Kamala Harris in the upcoming U.S. presidential election in November.
Despite worries about a potential protectionist stance under a Trump administration, his “laissez-faire” approach is believed to facilitate easier access to the U.S. market for British firms. This is particularly important for the City of London as it explores new growth opportunities following a significant loss of EU business post-Brexit.
A senior UK financial lobbyist, speaking anonymously, remarked, “You could have a White House that may want to have a less restrictive regulatory framework for financial services, which might indirectly engender more financial flows across the Atlantic.”
Additionally, a prominent lawyer from the City of London characterized Trump as “pro-business,” emphasizing that Harris’ policies would likely be “less helpful” to British enterprises. Although Trump's first term was marked by unpredictability, the lawyer pointed out that his financial policies “did not lead to a run on the dollar or any major problems in financial markets even though a number of his policies were controversial.”
In contrast, a Harris presidency is viewed as “the big unknown,” with her economic agenda reportedly focusing on addressing big business for suspected price gouging, as noted by the lawyer.
In recent comments, Trump criticized his Democratic rival over the current administration’s performance regarding inflation, which has consistently exceeded 3% since Joe Biden took office.
Experts from the City of London have also praised the appointments that Trump made to key regulatory positions during his first term, highlighting the competence and industry experience of these individuals. For instance, former Goldman Sachs executive Steven Mnuchin served as secretary of the Treasury, while Randal Quarles, a private equity investor and veteran of the Treasury, held an important banking oversight role at the Federal Reserve.
“The political appointments determine the political agenda in terms of trade for financial services and more,” stated Angus Canvin, director of international affairs at UK Finance, which represents British banks.
As of now, Trump and Harris are nearly tied in most polls, with Harris edging ahead of the former president in recent surveys.
Olivia Brown contributed to this report for TROIB News
According to finance specialists from the City of London, British businesses would prefer Republican nominee Donald Trump over Vice President Kamala Harris in the upcoming U.S. presidential election in November.
Despite worries about a potential protectionist stance under a Trump administration, his “laissez-faire” approach is believed to facilitate easier access to the U.S. market for British firms. This is particularly important for the City of London as it explores new growth opportunities following a significant loss of EU business post-Brexit.
A senior UK financial lobbyist, speaking anonymously, remarked, “You could have a White House that may want to have a less restrictive regulatory framework for financial services, which might indirectly engender more financial flows across the Atlantic.”
Additionally, a prominent lawyer from the City of London characterized Trump as “pro-business,” emphasizing that Harris’ policies would likely be “less helpful” to British enterprises. Although Trump's first term was marked by unpredictability, the lawyer pointed out that his financial policies “did not lead to a run on the dollar or any major problems in financial markets even though a number of his policies were controversial.”
In contrast, a Harris presidency is viewed as “the big unknown,” with her economic agenda reportedly focusing on addressing big business for suspected price gouging, as noted by the lawyer.
In recent comments, Trump criticized his Democratic rival over the current administration’s performance regarding inflation, which has consistently exceeded 3% since Joe Biden took office.
Experts from the City of London have also praised the appointments that Trump made to key regulatory positions during his first term, highlighting the competence and industry experience of these individuals. For instance, former Goldman Sachs executive Steven Mnuchin served as secretary of the Treasury, while Randal Quarles, a private equity investor and veteran of the Treasury, held an important banking oversight role at the Federal Reserve.
“The political appointments determine the political agenda in terms of trade for financial services and more,” stated Angus Canvin, director of international affairs at UK Finance, which represents British banks.
As of now, Trump and Harris are nearly tied in most polls, with Harris edging ahead of the former president in recent surveys.
Olivia Brown contributed to this report for TROIB News
