The 2016 presidential race has had quite a bit of drama and WL Ross and Co. Chairman Wilbur Ross weighs in on why there may be more drama on the campaign trail as Election Day fast approaches.
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Ross responded to concerns about the potential impact of a Hillary Clinton presidency on the U.S. economy.
“First of all, I think her election will be a negative because the plan basically is raise taxes and raise regulations. I don’t think that’s a formula to get anything jump started,” Ross told the FOX Business Network’s Maria Bartiromo.
On whether a Clinton election win would be an immediate market negative, Ross responded, “Immediate country negative, immediate economy negative. How the market will react, who knows? They’ll probably be glad the damn thing is over with I think would be one reaction to it.”
Ross explained that his vision of a market response to the election is “because this has had so many twists and turns and probably more to come.”
If Democratic nominee Hillary Clinton is elected, Ross predicts that one of her biggest challenges will be passing the Trans-Pacific Partnership (TPP), a global trade deal.
“I think TPP is pretty well dead.” Ross continued, “She’s going to have a tough time getting it through the Congress.”
Ross then reacted to concerns over the negativity and rhetoric from both presidential candidates towards trade.
“I think people are tired not of trade, but of bad trade transaction, bad trade deals.”