KPMG Economics’ global macroeconomic modelling suggests Australian GDP will be permanently reduced by 0.3 percent in the medium term as a direct consequence of the U.S. tax reforms. This equates to A$5bn and 25,000 jobs lost.
Do not make the mistake of thinking that any one presidential decision will bring global climate action to a sudden and permanent halt. It will not. It is too late for that. The world is still moving towards a zero net carbon future and we all need to be ready for that.