President Trump campaign for President was full of symbolism. Two of the most important were building a wall and repealing Obama Care (the ACA). So far he has failed at both. It looks like he and the Republicans in Congress have given up on “repeal and replace” the ACA and have very little traction on building the wall. It is now safe to predict that no significant legislation will be passed and signed during the remainder of the Trump Presidency.
No tax reform, no health care reform, no immigration reform, no financial reform and certainly no import restrictions.
So going forward the playing field may not be level but it is predictable. This is great for business because with the unknown of government actions neutralized it is much easier to make investments. The Republicans were able to keep President Obama from passing any significant legislation after the 2010 midterm elections cost the Democrats their super majority in the Senate. President Obama had used all of his political capital to pass the ACA. After that no significant legislation was passed and the business climate started to improve. Trump started with very little political capital and he squandered what he had because of his inexperience and temperament. The business climate is good but don’t expect significant tax reform.
Take heart Gridlock is good for the marketplace.