President Trump’s pro-business stance is encouraging to manufacturers who believe it will lower taxes and ease regulatory burdens, but his desire to dissolve some trade agreements and his talk of a 45 percent tariff on goods from China and a 35 percent tariff on Mexican imports make the manufacturing sector worried, Trade Only Today reported.
That’s according to Chicago-based advisory firm Grant Thornton, which has issued analysis from its policy team about how Trump’s most recent proclamations and executive orders that dramatically alter U.S. policies might impact four key areas — infrastructure, manufacturing, trade and transportation.
On the infrastructure side, improvements should benefit manufacturers, the firm said.
Trump made improving the nation’s crumbling infrastructure a cornerstone of his campaign, Trade Only Today said. Democrats recently “dared Trump” to make good on his promise by unveiling a $1 trillion infrastructure spending bill in the Senate, Grant Thornton said.
Manufacturers support proposed infrastructure improvements because they could speed the delivery of goods, reduce freight costs or lower the transportation cost of energy while at the same time bringing new revenue opportunities, said Jeff French, national managing partner of consumer and industrial products.
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