If I am wrong somewhere, please correct me.
Due to the great dependence of the capital markets on America, political or structural changes in the USA represent a major risk for the entire market and also for global ETFs.
Trump and Musk are radically abolishing (or further reducing) controls on large companies in addition to creating a perfect divide in society.
But isn't the Project 2025 team interested in crashing the economy to facilitate refinancing and then even more debt? I mean, the paper is public...
https://www.ihk.de/rhein-neckar/international/maerkte-international/amerika/usa/usa-project-2025-handelspolitik-trump-6195310
And seriously: In the US, there were already only the absolutely necessary controls regarding the environment and social compatibility. With the abolition of entire authorities, it is only a matter of time before a company causes great damage to the social environment or the environment due to pure greed for profit, which then has a massive impact on companies in the medium term.
The regulatory authorities are there for something, they are not an invention of the evil left to steal money.
In addition, Trump's tax cuts will probably exceed the debt savings, even after he has taken on new ones (would estimate as early as 2026). Contrary to expectations, inflation has not decreased, especially food prices have continued to rise, tariffs will not cause these prices to fall again.
I will $VEU (+0,54 %) into the portfolio and thus slightly reduce the US $VWCE (+0,45 %) slightly lower.
In addition:
When it comes to individual stocks, I tend not to bet on America any more, if I do I'll wait for the setbacks that are sure to come this year.
America is only a hold for me.
