Sixty-five days of investment mayhem lie ahead. The market relief rally that followed the calling of the US election is most likely to encounter significant turbulence. This particular president has a history of petty punishments for sleights imagined and real. An electoral defeat turns that characteristic into a major threat for investment certainty, not just more broadly, but particularly in relation to his ongoing feud with China.

Until the inauguration of the next president, Trump has 65 days where his childish retributions can be carried out using presidential executive orders which do not require the approval of Congress or the Senate. In time they may be overturned by a Supreme Court — a court which has just been stacked in his favour with an unprecedented appointment in the dying days of his presidency. Until they are overturned, these actions have the potential to inflict substantial and at times, irreparable harm on investments.

Currently Trump is refusing to enable the usual smooth transfer of power from one president to the next, so the transition of foreign policy actions may also be sabotaged via executive powers roadblocks. These are foreign policy decisions that are easy to implement but which are difficult to quickly unwind. They have the potential to further sour relations between China and the US.

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