In just a few weeks since the election, President-elect Donald Trump has moved quickly to make appointments for his incoming administration. His cabinet appointments will face confirmation in the Senate — where Republicans will only have a 53-47 majority next Congress.
A Republican sweep of Congress gives President-elect Trump momentum to push through key aspects of his policy agendas, and he’s said he’ll likely focus on tariffs as one of his first orders of business. In a series of social media posts, Trump said he would impose tariffs of 25% on imports of all goods from Mexico and Canada and add an additional 10% tariff on all Chinese goods. He said he’d enact these tariffs on his first day in office if these countries do not take measures to stem the flow of illegal migrants and drugs. The president-elect can impose new tariffs by executive order. Canada, Mexico and China are the three biggest trading partners for the US.
President-elect Trump will also focus on taxes, and the Republican Congress makes it possible to apply budget reconciliation to avoid the 60-vote threshold needed in the Senate to push through tax legislation. The narrow Republican majority may temper the extent to which he could enact bold reforms, however, and likely means having to find internal consensus and compromise.
President-elect Trump will also likely look to ease regulation and expand energy production — and the economy will be a key issue for his administration.
While some key economic indicators are moving in the right direction, executives are still wary about the economic outlook.
Executives are likely to see a shift in the regulatory landscape under President-elect Donald Trump and a move toward some deregulation.
As executives work to thwart cyber attackers, they must also comply with a maze of cybersecurity regulations — a high-pressure and complicated effort.
While the prospect of a higher corporate tax rate is no longer on the table, concerns remain about international tax changes scheduled to take effect in 2026, as well as the US adoption of a Pillar Two-compliant per country GILTI regime.
Executives anticipate more tariffs, which may be implemented by executive order.
The current murky AI policy landscape is not slowing executives’ investment plans in artificial intelligence.
Sustainability regulations and incentives for businesses will likely change dramatically, though executives still plan to invest in sustainability.
Dealmakers prefer certainty, and they can now plan, knowing who will be in the White House.
How will tax, trade, healthcare, sustainability and other critical issues fare in the second Trump administration? Join PwC's policy team and other specialists on Policy on Demand for the latest developments and analysis on these and other business issues.
