How Trump’s Presidency Could Affect Arizona’s Economy

Donald Trump’s been elected as the 45th president of the United States — so what will that mean for our Arizona economy?

Trump’s election had an almost immediate effect on stocks. In Arizona, Phoenix-based Freeport-McMoRan’s shares rose up to $13.06. According to azcentral.com, this comes as a result of Trump’s administration not being as focused on regulation. Other companies that saw a rise in stocks are Knight Transportation, Grand Canyon University and Avnet.

Another factor that’s expected to be affected by Trump’s election is trade. One of the most evident U.S. ties with Mexico. This, of course, stemming from Trump’s plan to build a wall between the two countries. Same goes with our neighbors to the north. Trade with Canada is also expected to suffer, which would have a greater effect since Canada trades more with the U.S. than Mexico does.

Finally, Trump’s presidency is expected to affect taxes. Trump is proposing to lower tax rates, which would benefit high-income Americans the most. He plans to trim the top rate on individuals from almost 40 percent to 33 percent. He would trim the current seven individual brackets to three of 12 percent, 25 percent and 33 percent.

Trump’s plan involves having these tax cuts spur higher economic growth, which has been highly criticized by economists.

Check out the full details on how Trump’s presidency will impact Arizona’s economy and your pocketbook here.