The first 100 days of the Trump administration has been trying, to say the least, for many Americans. Inconsistency in foreign policy and the abrogation of the proposed TransPacific Partnership has disappointed those of us who believe trade creates jobs both at home and abroad. This inconsistency has also made relationships with some of our most staunch allies more tenuous, particularly in Europe and South Korea. Mexico is reportedly looking to redefine itself, with the help of Chinese investment, as the capital of carmaking in the Western hemisphere. None of these developments bode well for American businesses.
The domestic side is also difficult. Uncertainty is always the enemy of new investment. The White House is in disarray. Nearly 500 political appointments in key agencies have not been sent to the Senate to begin the confirmation process. This includes critical positions in Treasury needed to get the tax package ready for consideration. It now appears that the long-awaited corporate tax cut will be paid for simply by adding to the deficit. What some will view as a positive development— the vigorous response to undocumented immigration—is also reducing foreign tourism and making legal skilled labor from other countries more difficult to obtain.
I remain an optimist because the United States is a strong decentralized country and the rule of law has so far proved resilient. And the revenues for cable TV, which thrives on sensationalism and chaos, have soared!
