The restaurant and food industry has divided opinions about the forthcoming Trump presidency, with one of the largest concerns being looser regulations.
“I think Trump’s win will be great for the economy. I think we’ll see real GDP growth and that will be great for the restaurant and retail industry,” said Andy Puzder, chief executive of CKE Restaurant’s Inc, the privately held parent company of Carl’s Jr and Hardee’s, in an interview with Wall Street Journal. However, a potential implication on global trade has packaged food an beverage companies worried. Analysts have warned of this saying that Trump could impose trade restrictions on countries such as Mexico and China, following comments he made during his campaign opposing the North American Free Trade Agreement and the Trans-Pacific Partnership.
“We may see relief in some of the burdensome requirements imposed on businesses and employees alike in the health care space, as well as in labour regulations (looking at you, Overtime Rule),” said the National Restaurant Association, referring to a pending Labour Department rule that would raise the salary threshold for employees who are eligible for overtime pay.