Rapaport Statement on the U.S. Election Results
Great Change in America
Nov 9, 2016 10:22 AM
By Martin Rapaport
RAPAPORT... America is moving to a
new future based on different values and priorities. Trump’s triumph will have
a major impact on political, social and economic conditions. A tidal wave of
disruption, filled with challenges and opportunities, is coming our way.
Trump’s election is the
victory of the “angry majority” of Americans demanding change. They want to
break away from the past and will demand a radical overhaul of U.S. regulatory,
trade, and foreign policy. The war against the political establishment and the
policies of the past has been won. America has spoken decisively, electing a
Republican President, Senate and House of Representatives.
Long standing political and
economic relationships will come under pressure as Washington moves to more
forceful America first policies. America’s trade and foreign policy will
prioritize local beneficiation over globalization. America will no longer
sacrifice its priorities for the benefit of the old global political order.
Trumpism will have major
impact on the U.S. and global economy. Socialist policies will be replaced with
a new capitalist approach to government and the economy. Political powers will
realign to create new economic opportunities for Americans. Lower taxes, higher
domestic employment and the end of Obamacare will increase disposable income and
encourage investment in local businesses. This will fuel new domestic economic
We are witnessing a
perfect storm of unprecedented uncertainty. Markets will play an increasingly
important role valuating greater risk and adapting to change. While the new
order may not guarantee prosperity it does guarantee a fundamental change in
direction and priorities for the U.S. and the world. For many, it offers hope
for a better future.
The diamond and jewelry
trade will benefit from the new regime. Increases in disposable income and new
businesses will create a more prosperous middle class and greater numbers of
wealthy consumers. Global uncertainty will increase demand for investment
diamonds as a store of wealth.
victory, while positively dangerous, sets the stage for growth and development.
We expect changes that will have long term impact on the future of America and
Trump Victory Improves Outlook for Diamonds and Jewelry
PRESS RELEASE, November 9, 2016, New York … Trump’s election victory
coupled with Republican control of Congress is expected to set the stage for
improved economic conditions that will support increased demand for diamonds
and jewelry. Lower taxes, higher domestic employment and the end of Obamacare
will increase disposal income and encourage investment in local businesses.
This will fuel new domestic economic growth.
“The diamond and jewelry trade will benefit as the new policies create a more
prosperous middle class and greater numbers of wealthy consumers. Global
uncertainty will also increase demand for investment diamonds as a store of
wealth,” said Martin Rapaport Chairman of the Rapaport Group.
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About the Rapaport Group: The Rapaport Group is an international
network of companies providing added value services that support the
development of fair, transparent, competitive and efficient diamond and jewelry
markets. Established in 1978, the Rapaport Price List is the primary source of
diamond price and market information. Group activities include Rapaport
Information Services, Rapaport Magazine, and Diamonds.net, providing research,
analysis and news; RapNet – the world’s largest diamond trading network;
Rapaport Laboratory Services provides GIA gemological services in India,
Belgium and Israel; and Rapaport Trading and Auction Services specializing in
recycled diamonds and jewelry. The Group supports over 20,000 clients in over 120
countries and has offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai,
Surat, Dubai and Hong Kong. Additional information is available at www.Diamonds.net.
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chairman, Donald Trump, Martin Rapaport, Rapaport Group