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• What’s inside Trump’s “One Big Beautiful Bill��
• How global markets and major brands could be impacted
• What lies ahead for global trade, regulation, and political stability

Key Global Impact Stats:

• A $10,000 vehicle loan interest deduction targets a $2.8 trillion global auto market, with approximately 13.8 million cars sold in the U.S. in 2023.
• A projected $3.8 trillion U.S. deficit could drive up global interest rates and cause $30 billion in capital outflows from emerging markets.
• Approximately $220 billion in defence and border spending may impact global trade and security dynamics.

Donald Trump’s “One Big Beautiful Bill Act�� is more than a domestic policy headline. Introduced in 2025, the bill brings together sweeping tax reforms, defence investments, healthcare cuts, and immigration controls into a single legislative proposal.

If passed, the effects will be felt far beyond the United States. For multinational corporations, foreign governments, and international investors, this bill is a signal of how U.S. policy might reshape trade, market access, and global economic coordination in the coming decade.

What’s Inside the Bill?

The bill unites essential components into a single legislative vehicle.

• Tax reform

• • • Permanent continuation of Trump’s 2017 tax cuts
    • Tax-free tips and overtime pay
    • Introduction of a $10,000 tax credit for U.S.-made automobile purchases.
    • The launch of “MAGA savings accounts” for children born during Trump’s presidency.

• Healthcare Overhaul

• • • Medicaid budget cuts include work restrictions and increased co-pays for beneficiaries.
    • Defence and border spending totals $150 billion.
    • $70 billion for border security and infrastructure.

• Estimated fiscal impact

• • The national deficit is expected to climb by $3.8 trillion over the next ten years

Global Brands and Supply Chains: Strategic Shifts Ahead

Multinational firms with exposure to US markets may see strategic shifts as a result of the bill’s emphasis on domestic production and American-made incentives. The proposed $10,000 deduction for interest on loans for vehicles manufactured in the United States has the potential to radically alter competition among global automakers.

Automakers such as Toyota, Hyundai, and BMW, particularly those without substantial U.S. manufacturing operations, may face pricing disadvantages when compared to domestic competitors. Companies with U.S. manufacturing, including foreign-owned ones, may benefit if their products qualify for tax breaks.

Technology brands, particularly those with distributed global supply chains like Apple, could face renewed pressure to localise more production within U.S. borders. Shifting assembly operations stateside may become a prerequisite to benefit from consumer-facing tax incentives or avoid regulatory barriers.

Outside the automotive and tech industries, non-U.S. manufacturers selling into the American market may encounter new compliance thresholds and fluctuating duties, depending on how further legislation is developed to support this bill’s framework.

What It Means for Global Trade

This bill doubles down on the “�� policy. Trump has long advocated for reshoring jobs, pressuring trading partners, and using tariffs as leverage.

Expect future negotiations with the UK, EU, China, and Mexico to factor in this bill’s priorities—if it passes.

The vehicle loan interest deduction is just one piece. Other measures in the bill may trigger retaliatory trade moves or disputes in the WTO.

Emerging markets that depend on U.S. investment could feel the squeeze if Washington prioritises domestic spending over international aid or trade partnerships.

Currency markets may respond to rising deficits with higher yields and dollar volatility. For global CFOs and institutional investors, the cost of borrowing and hedging may shift rapidly.

Will the Bill Pass?

The U.S. House of Representatives passed the bill in committee. But it faces a complex path forward.

Republicans are not united on its scale. Fiscal conservatives argue it’s too expensive. Moderates object to proposed Medicaid changes and limits on tax deductions.

Democrats have signalled strong opposition, especially to healthcare cuts and border wall spending.

With Republicans controlling both chambers in 2025, the bill has a clearer path but still faces internal divisions. If not, key elements may be negotiated or split off into smaller proposals.

For now, the bill acts as a policy blueprint. The debate itself is shaping future legislation, even if not every piece passes in its current form.

Reactions from the Business Community

Large U.S.-based multinationals are mixed in their response.

Retailers are watching closely. Walmart, Target, and Amazon may benefit from tax cuts that boost consumer spending—but face pressure on sourcing and worker benefits.

Healthcare companies are preparing for shifting Medicaid coverage rules. Insurers and hospital systems fear administrative complications and loss of revenue.

Global consulting and legal firms report increased demand from clients seeking to understand U.S. compliance risks and tax exposure.

A London-based executive at a major EU automotive group told Global Brands Magazine:

“The U.S. market is too big to ignore. If the rules change, we’ll need to shift production strategy or lose ground to American rivals.��

What This Means for the UK

For UK brands exporting to the U.S., tariff risk and regulatory hurdles could rise.

Digital firms may need to track evolving rules on platform moderation and data compliance, which are expected in parallel bills.

London-based fintechs and AI startups could see investor behaviour shift depending on U.S. capital flows and interest rate changes.

The bill’s proposed cuts to international aid and foreign services could impact UK–U.S. development projects and NGOs.

Currency markets may also react. The pound-dollar relationship has shown sensitivity to U.S. fiscal changes, particularly during past debt ceiling and budget battles.

Key Indicators to Monitor

Market analysts and regulatory observers are actively monitoring various topics of interest:

• Timelines for voting on budget reconciliation and tax legislation in the United States Congress
• Domestic auto and energy industries respond to vehicle incentives and manufacturing policies.
• Medicaid policy changes and their expected influence on private sector insurance providers.
• Foreign exchange responses to the US deficit expansion and Treasury policy pronouncements
• Statements from international trade organisations and foreign ministries predict retaliatory actions or renegotiated accords.

These metrics will provide early indications of whether the One Big Beautiful Bill Act will change international business conditions or stall in domestic negotiations.

What This Signals Long Term

Whether this bill passes in whole or in part, it reflects a broader shift in the U.S. political economy.

With Trump in power in 2025, economic nationalism is at the centre of U.S. policymaking.

Future legislation may continue to favour domestic production, stricter immigration control, and reduced federal oversight of businesses.

For global brands, that means planning for volatility.

Supply chain strategy, risk management, and regulatory planning must now account for a more divided and unpredictable U.S. political environment.