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Rapaport Statement on the U.S. Election Results

Great Change in America

Nov 9, 2016 10:22 AM   By Martin Rapaport
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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 growth.

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.

President-elect Trump’s 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 the world.

RAPAPORT PRESS RELEASE

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.

Rapaport Media Contacts: media@diamonds.net
U.S.: Sherri Hendricks +1-702-893-9400;
International: Gabriella Laster +1-718-521-4976;
Mumbai: Manisha Mehta +91-97699-30065

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.

Martin Rapaport grants limited permission to use copyrighted data appearing in this press release in and in conjunction with journalistic copy, reporting or articles concerning diamond pricing and information in graph or data presentation format only. The following credit notice must appear alongside, underneath, or in close proximity to any use of the copyrighted data: “Used with permission of Rapaport USA, Inc. Copyright © 2016 Rapaport USA Inc. All rights reserved.”
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