Inflation pain helped secure Trump win but his policies mean higher prices

Markets expect his policy package to harm trade and growth but reduce business taxes

• Dollar soars as markets bet that Trump has won election
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Higher share prices. A stronger dollar. A less rapid pace of interest rate cuts. The financial market reaction to Donald Trump’s return to the White House was swift and predictable.

The man who will become his country’s 47th president has made no secret of what he plans to do: cut taxes, impose heavy tariffs on imported goods, place curbs on migration, and slash red tape.