It’s official: Donald Trump will make a comeback to the White House. Stephen Dover, Director of the Franklin Templeton Institute, in charge of forward-looking studies for the $1.6 trillion US asset manager, looks at the financial implications of the election. What to do on Wall Street?

First of all, “the extension of Trump’s 2017 tax cuts is assured“, with a target corporate tax rate of 15% as a first step. According to the specialist, it’s unlikely that the increase in tariffs will be as massive as declared during the Republican candidate’s campaign rallies, who will no doubt have to consider situations on a case-by-case basis.

What are “Trump values”?

This victory offers good prospects for several risky asset classes, such as fossil fuel and financial services stocks. Small caps should also be favored by protectionist measures…