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Markets may be celebrating what they believe is a new golden agefor the U.S. economy under president-elect Donald Trump, but many economists have a much more sobering take.

They believethat some of the central tenets of Trump’s economic policy are downright harmful to the U.S. and global economies. Those policies include pulling the U.S. out of trade agreements such as NAFTA and levying tariffs on key trading partners like Mexico and China.

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Investors, at least for now, do not seem to mind and there are a few explanations for their positive reaction. Doug Porter, chief economist at BMO Capital Markets notes that Trump’s decisive election eliminates fears of the kind of dragged-out government deadlock seen in 2000 that paralyzed the economy. The Republicans also now control both chambers of Congress, giving Trump a unified government that can pass legislation more quickly.

But economists also warn that viewing Trump as the saviour of the American economy could be just a little bit of wishful thinking.