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Donald Trump set to become next US President
09
Nov '16
US citizens have elected Republican Donald Trump as the 45th President of the country. Trump defeated Democrat Hillary Clinton to become the first ever US President who has never held public office before or served in the US military. Trump won after winning Wisconsin's 10 electoral votes, which helped him cross the threshold of 270 votes.

Trump spoke about his plans to cut down on corporate tax rates in the US to 15 per cent from the current rate of 35 per cent. This could have serious implications as the policy can lure a lot of American businesses, who have set up facilities in other countries to avoid taxes, back to the US.

He also plans to ease regulatory frameworks for businesses to increase the country's GDP by 4 per cent and create more than 25 million jobs over the next decade. The impact of Trump's election on the textiles sector remains to be seen. (KD)

Fibre2Fashion News Desk – India


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