Blackrock boss Larry Fink says President Donald Trump has been good for the global economy

Blackrock’s chairman and chief executive has said US President Donald Trump has been “good for the global economy” so far.

Speaking on BBC Radio 4’s Today programme, Larry Fink said Trump “has been good for the US economy, and therefore it’s been good for the global economy”.

“I may disagree with many things he’s said,” Fink added. “But unquestionably the tax reform is going to add at least nine tenths of GDP to the US economy.”

“Some of the deregulation that he’s done has created less burden on companies, and companies have been able to do more things,” he added. “But at the same time a year ago we never imagined a Europe to be so politically unified with President Macron winning and so we have a much stronger Europe than everyone forecasted a year ago today.”

The Blackrock boss was also asked if he had any concerns about some of the protectionist noise coming from the US administration.

Fink said:

I’m under the belief that globalisation has been good for more human beings than ever before.

That does not mean that people have not been left behind in the UK or left behind in the US. For some of them globalisation has not been good, and I think this is why we had Brexit, I think this is why we’ve had the election of Donald Trump.

Donald Trump understood the fears and the needs of people.

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Fink added that Trump “believes he has a mission to make America great again, and if you look at all his behaviours, he’s trying to execute on that”.

“Whether I agree or disagree he’s trying to execute on that,” Fink said.

The Blackrock boss said he didn’t think it was inappropriate to redraw “some of these treaties that were so asymmetric”.

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