The awaited announcement on taxes has taken place and now we need to see if Donald Trump will really keep its promises. In his first speech to Congress, which took place on the Italian night, the new US president Donald Trump announced that he is on the way a "huge" tax cut for the middle class: it will be necessary to understand how it will be structured and what weight the measure will have on the American public deficit, but which can once again inflame the financial markets.
Despite being the most eagerly awaited, the tax cut was not Trump's only announcement. The American president has also promised to raise the wages of American workers thanks to squeeze that there will be on immigrants.
Also announced a sharp increase in US military spending to enable the army to "prevent wars".
Trump also confirmed that it will kick off shortly the construction of the wall on the border with Mexico as a “weapon against drugs and crime”.
In terms of infrastructure, Trump has asked Congress to pass legislation that “produces trillion dollars of investments, financed with public and private capital, creating millions of new jobs”.
The President of the United States then announced that his administration will work on a new health care reform for "save Americans from disastrous Obamacare".
As for the business, Trump said he was "a strong supporter of free trade", but also underlined that with the NAFTA trade agreement with Mexico and Canada "the US has lost 25% of its employment in industry", therefore the trade agreements will be revised.
Finally, as regards the Atlantic Alliance, “we strongly support the NATO, but member countries have to fulfill their obligations. We expect our partners, whether in NATO or the Middle East, to take a direct and significant role in military operations and pay their fair share of the costs,” Trump concluded.
The first comments by analysts show that the scale of priorities indicated by Trump met the expectations of the markets, however the President's indications were still rather vague, as there was still no timescales and execution methods.
The 45th American president seemed presidential like never before, he used tones marked by optimism and not the gloomy ones of his inauguration speech in which he spoke of a "perpetrator" who must end "here and now". Investors seem to have liked this, but they haven't heard anything new or concrete.
