25 January 2017

GCs await red tape massacre under America's new president

Many GCs are predicting smoother sailing for business under the new Trump administration.

By Kathryn Higgins

Wavebreak Media

It seems that GCs and CLOs across the United States have a considerably rosier disposition towards their nation’s new president than those who took to the streets for history-making protests last week. Of the 101 legal leaders included in a recent survey by legal market research group Acritas, an overwhelming 72 per cent said that they expect the arrival of President Trump’s administration to have an impact on their business. Of those, more than half (56 per cent) said they expected that Trump’s tenure in the White House would likely carry positive implications for their company. Reduced regulation and red tape, business and industry-friendly public policy, tax cuts and a healthier economy were at the top of the GC wish list for Mr Trump’s first four-year term as president, along with boosted investment in infrastructure and the repeal of the Affordable Care Act.

However, a still-substantial 44 per cent of GCs had a different take on President Trump’s arrival in Washington, predicting tougher times ahead for their business. Atop the list of concerns was the sense of instability, uncertainty and inconsistency that might be experienced at a political and regulatory level under President Trump’s leadership, as well as bulkier barriers to global trade. Weakened ties with foreign governments and economies, reduced focus on renewable energy and shifting policies on healthcare were also cited as potential stumbling blocks for business under Trump. 

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