Companies hoping to remain competitive—and particularly those working in export markets—will have to work much harder now. Absent trade preferences, firms are at a disadvantage relative to competitors in places like Asia or Europe. The outsourcing that Trump has complained about is likely to accelerate. Firms that want to take advantage of benefits conferred through deals like the Regional Comprehensive Economic Partnership (RCEP) in Asia will need to be located in Asia to provide goods and services to these faster growing, significant markets.
The wider world certainly grasps the consequences of this election. People of all sorts have been glued to their televisions in amazement. For American voters, knocking over the system and electing Donald Trump as President may have felt very good. But the economic and trade consequences will be significant and the fallout felt far beyond Washington DC.