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Trade Wars and Tax Cuts Affect Wells Fargo in 2018

Robert Karr
Trade Wars and Tax Cuts Affect Wells Fargo in 2018

The Trump administration appears to have initiated trade wars with China, Canada, and other countries in order to counter rising imports and encourage domestic manufacturing. The administration’s efforts to lower taxes, meaning fewer regulations for mid- and small-size financial companies, are directed toward reducing the fiscal deficit by encouraging domestic manufacturing and exports. The bank could benefit by improving its credit offtake amid demand from the manufacturing sector for capacity augmentation.