Maio: Either presidential winner likely to encounter roadblocks

Editor’s note: P&Q turned to some of the industry’s leaders for their takes on the 2020 presidential election. Leaders were posed with the following questions in advance of this month’s issue: How do the potential outcomes of the upcoming presidential election impact your outlook on the aggregate industry? What effects would another four years of President Trump have on the industry? What effects would a Biden administration have on the industry?

The result of the presidential election will have a profound effect on both domestic and global macroeconomics.

If President Trump wins, we can expect him to continue to focus on foreign trade and continue the cat-and-mouse game with China, keeping the markets on edge. Obstructionists from both parties will double down and make getting anything done for Trump exceedingly difficult.

If former Vice President Joe Biden wins, he too can expect to hit a congressional roadblock for his agenda. I would expect the markets to initially react bearishly to a Biden win, which would potentially mean a longer economic recovery.

A Trump win likely creates a more bullish 2021 sentiment, with a Biden win potentially creating a longer period of uncertainty into 2021.

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Alan Maio is executive vice president at Proudfoot.

Featured image: P&Q Staff