Trump Picks Rep. Lori Chavez-DeRemer for Labor Secretary

Published On Nov 22, 2024, 9:25 PM

Lori Chavez-DeRemer, a Republican representative from Oregon, has been appointed as labor secretary in Donald Trump's upcoming administration. Despite losing her bid for re-election, she is supported by various labor unions and is seen as a moderate who has worked with both business and labor sectors. Her appointment comes amid a complex relationship between Trump and labor unions, as Trump has often criticized labor policies while also gaining some union support for economic proposals like tariffs.

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Stock Forecasts

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Positive

Chavez-DeRemer’s appointment could lead to positive shifts toward supportive labor policies while balancing pro-business frameworks, which may increase investor confidence in sectors reliant on labor relations, particularly unions. This could create a more favorable environment for industries like construction, manufacturing, and transportation.

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Negative

While her relation with unions may foster support, Trump's broader economic stance, particularly on tariffs, could create uncertainty for sectors dependent on global trade. This may negatively impact related stocks that are sensitive to trade policies.

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