New US President Donald Trump's inaugural speech was no different from candidate Trump's rhetoric, centering around the promise of making every decision on trade, taxes, immigration and foreign trade with "America first" being the priority.
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Trump's statements could mean emerging markets could stay rangebound till the President articulates his policies more clearly, says Arvind Sanger, Managing Partner, Geosphere Capital Management. In an interview with CNBC-TV18, he, however, said that should Trump indulge in protectionism and impose trade barriers, the move should be "disruptive".
"Emerging economies that are trade dependent could see some slowdown and India IT firms. They are already facing technological challenges and could see more headwinds," says Sanger.
Lewis Alexander of Nomura says that Trump's perceived hard line on immigration may not be such a "straight line" after all, but did not rule out the possibility of a trade war among countries on his watch.
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