Published September 22, 2024 at 4:54 p.m
Economy. If Donald Trump regains power in the US, European oil companies will benefit, while companies focused on the so-called green transition risk being negatively affected. This is the opinion of several experts who Today’s Industry have spoken to.
Europe’s green industry and green power companies, as well as manufacturers of electric cars, could be affected if Trump rolls back parts of Joe Biden’s climate package, the Inflation Reduction Act (IRA), experts believe.
– We expect sectors such as renewable energy and healthcare to benefit from an administration led by Kamala Harris. With Trump, we expect financial and energy companies, which are heavily regulated, to get a boost thanks to his focus on deregulation, Jonathan Mackay, US head at Schroders, told DI.
In contrast, UBS believes that the European luxury sector could benefit from lower taxes in the United States under a Trump administration.
Mackay also warns that new tariffs could hit Europe’s automotive industry hard, a view shared by UBS. On the other hand, according to Nordea’s Viktor Sundberg, the pharmaceutical industry could be burdened by democratic price controls.
Source: www.friatider.se
