Trump to take office in January
As the dust begins to settle following what could only be described as an unexpected result for many, the four corners of the world are coming to terms with President-Elect, Donald Trump. In an incredibly polarised election, Trump received 290 electoral votes to Hillary Clinton’s 228, while Clinton upheld a majority in the popular vote.
Domestic markets plunged, surged, and settled in record time, with the uncertainty of the times reflected in the Dow. The Mexican peso crumbled to its lowest ever rate against the dollar, while further afield, the initial reaction among the Asian markets was a negative one, with Hong Kong’s Hang Seng Index dropping over 950 points on Wednesday.
On home ground, in the days following the election Trump’s team reaffirmed its intention to dismantle the Dodd-Frank Act (and in particular, its dissatisfaction with the Volcker rule). The Act was introduced in 2010 in an attempt to curb pre-financial crisis behaviour among banks. An unpopular piece of legislation among the Republican Party, the Act received just three Republican Senate votes when it was passed. The anti-regulatory approach may further extend to matters of net neutrality, as Trump has reportedly considered ‘closing’ parts of the Internet in the face of terrorist threats.
Trump’s published views on cyber security may be scant, though they do include a desire to assess current capabilities, identify weak points and existing vulnerabilities, and for greater cooperation between existing law enforcement bodies and authorities, as well as the bolstering of offensive cyber capabilities. The rest, much like remains to be seen, though will soon reveal itself in the coming four years.