America and Wall Street got to hear some of what a Donald Trump presidency might look like on Thursday night.
Markets seem non plus by the what it heard as futures are slightly positive and bond yields moved a little higher on the Republican nominee’s agenda.
Naturally, there are little specifics on his economic plan, however with the state of the US right now — with little growth in GDP for eight years — it would not take much to succeed to get America growing at a 3% rate again.
“Household incomes are down more than $4,000 since the year 2000. Our manufacturing trade deficit has reached an all-time high – nearly $800 billion in a single year. The budget is no better,” Trump said early on in his speech.
He also made the connection that security at home is tantamount to growing an economy.
After pronouncing globalism as a dying tenet of the Democrats, Trump said, “The American people will come first once again. My plan will begin with safety at home – which means safe neighborhoods, secure borders, and protection from terrorism. There can be no prosperity without law and order. On the economy, I will outline reforms to add millions of new jobs and trillions in new wealth that can be used to rebuild America.”
Trump also told the nation that all these International trade deals — some ratified, some not — will be looked at anew. If the American people don’t benefit from them, then let’s redo them.
“I pledge to never sign any trade agreement that hurts our workers, or that diminishes our freedom and independence. Instead, I will make individual deals with individual countries.”
So now the planks are secure and the nominee and his VP nominee Mike Spense need to sell this plan — with specifics — on what a Trump presidency will do and not do to bolster the US economy.