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今日外刊原文
In the afternoon after Trump’s decisive election victory, the Dow Jones industrial average had surged more than 1,500 points, or 3.6%, as investors priced in potential gains for a swath of industries and a near-term boost to economic growth. A second Trump presidential term is expected to bring significant policy changes favorable to big business, including lower corporate taxes and less regulation. Top regulators at agencies such as the Securities and Exchange Commission and the Federal Trade Commission are likely to be replaced, easing the path for more mergers and acquisitions.
Economists were expecting an early Trump-bump on Wall Street given his pro-business stance, but the Republican Party’s reclaiming of the Senate and possible retention of the House suggest he will have a clearer path to reduce the corporate tax rate even further, to 15% from the current 21%. Before the big tax cuts passed during Trump’s first term in 2017 the rate was 35%. Any such large-scale tax cuts, however, will probably add to the nation’s budget deficits and public debts, increasingly crowding out investment and the potential for greater economic output. Interest payments on U.S. Treasury debt reached $1 trillion this year for the first time, even more than the federal defense budget. In his first term, Trump engaged in a trade war with China and slapped tariffs on steel from many countries, often as a political weapon, straining international relations, convulsing financial markets and hurting U.S. growth. Ultimately, American consumers end up footing the bill of higher tariffs by paying more for imported goods.
Stocks in Europe fell Wednesday, and not just because of the threat of higher tariffs, but also what a Trump presidency may mean for Ukraine and its war with Russia, NATO and overall European security in the region. Another key element in Trump’s economic policy involves tightening the borders and undertaking mass deportations of undocumented immigrants. Millions of new arrivals in recent years, including many asylum seekers, have played a key role in meeting employers’ labor needs and helping keep the nation’s economy growing at a robust pace. What’s more, Trump’s most aggressive economic policies are likely to be tempered by reaction from financial markets and U.S. business leaders, as they were in his first term. And for now, Trump has the benefit of having inherited a U.S. economy that has performed very well, despite the many voters who voiced unhappiness about the economy that may have been Vice President Kamala Harris’ undoing.
标题：洛杉矶时报 | 特朗普赢得大选对全球经济意味着什么？
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