EUR 9554.00 For Business Accounts Only

NSR Policy: One Month of Trump 2.0: What Have We Learned?

It’s been just over a month since Trump returned to office. The new Administration has been very active (as have we, with Trump actions causing us to publish 18 notes since the inauguration.) We thought it might be good to step back and consider the emerging themes from that month and what we have learned about how this Administration that will affect telecom and media cost structures, revenues and opportunities. We see several (predictable) policies that could affect the stocks to the upside, but in this first month more actions that could lead to a downside, including:
- How the Administration is signaling a management process that will likely add time and uncertainty to policy adoption;
- Continuity in one area investors were hoping for large changes (transaction reviews) and potentially large changes everywhere else where change is not as positive; and
- How investigations are becoming a key process for making policy, with the underlying policy still uncertain, putting clouds over companies where the government is seeking to replace the judgement of executives with their own judgement.