President Donald Trump‘s pledge to implement sweeping tax cuts could receive a negative reaction from the bond markets, triggering “significant market volatility,” according to Nigel Green, CEO of leading financial advisory company the deVere Group.
Newsweek contacted the White House and Treasury Department for comment on Saturday via email outside of regular office hours.
Why It Matters
During the 2024 presidential election campaign Trump vowed to introduce a series of tax cuts including reducing the corporate tax rate to 15 percent for firms that produce their products in the U.S. and ending the taxation of tips and overtime wages for waiting staff and other service workers.
Trump also pledged to maintain the tax reductions which he introduced during his first term via the 2017 Tax Cuts and Jobs Acts, which are in need of renewal.
However, Trump’s desire to cut taxes could come into conflict with efforts to contain America’s ballooning…
