no matter who wins<u+00a0>tuesday<u+00a0>night , corporations and big business interests took a drubbing in the 2016 election that could persist well after the last ballots are tallied. the two parties and their nominees agreed on little over a year of intense partisan brawling. but donald trump and hillary clinton made common cause slamming the influence and motives of big corporations and criticizing the merits of freer trade. those attacks have stirred populist sentiments on both the right and left and laid bare a deep sense of grievance among a large swath of the american electorate. going forward, the two parties will grapple with a landscape that has left traditional business interests on their heels.<u+00a0>four years ago, business leaders hoped the election would thaw gridlock that had frozen policy-making in washington. now, many of those same executives see divided government that maintains gridlock as the most benign outlook for their businesses. an initial test looms in congress immediately after the election, when president barack obama is expected to seek approval of the trans-pacific partnership . after that, lawmakers and outside political groups could subject the r<u+00e9>sum<u+00e9>s of cabinet nominees to greater scrutiny given louder calls for the next president to ensure executive appointees are sufficiently independent from the industries their agencies oversee. capital journal is wsj.com<u+2019>s home for election 2016 news. in a break from the party<u+2019>s normal stance, it was the republican nominee who lobbed the sharpest attacks on big business and corporations. mr. trump, in the closing days of the campaign, ratcheted up a critique of <u+201c>globalist<u+201d> corporations that he blamed for promoting trade policies that moved factories overseas and sapped the wages of working americans. in a national tv ad that aired in the final week, mr. trump singled out <u+201c>a global power structure<u+201d> that has <u+201c>robbed our working class and stripped our country of its wealth and put that money into the pockets of a handful of large corporations.<u+201d> on the democratic side, mrs. clinton promised to boost taxes on the wealthiest americans and corporations and has called for a range of new mandates on businesses. <u+201c>i am going where the money is and the money is with the wealthy and corporations because they<u+2019>ve done really well in the last 15 years,<u+201d> said mrs. clinton<u+00a0>on sunday<u+00a0>in cleveland. <u+201c>and they should pay their fair share to support our country.<u+201d> mrs. clinton<u+00a0>repeatedly pledged to block the pacific trade deal championed by mr. obama and congressional republicans. she has faced pressure from the left to expand entitlements, to push for a $15-an-hour minimum wage and to regulate wall street more aggressively<u+2014>moving a step to the left of mr. obama and marking a more dramatic break from the centrist course charter by her husband, president bill clinton. if mrs. clinton wins the presidency, <u+201c>the question is whether she is going to be bill clinton<u+2019>s third term or if she is going to be barack obama<u+2019>s third term,<u+201d> said john catsimatidis, a billionaire businessman who ran unsuccessfully for new york mayor in 2013 as a republican. he<u+00a0>said he expects mrs. clinton to look for places to make deals with republicans in congress. whatever the outcome tuesday, executives say they look forward to the election ending so businesses can enjoy more policy clarity. after a <u+201c>noisy<u+201d> campaign, <u+201c>companies are basically pausing and waiting to see how things play out before they make a decision around major capital multiyear commitments,<u+201d> said craig arnold, chief executive of eaton corp., the industrial conglomerate, on an earnings call last week. analysts say that an improving economy after the election would help tamp down some of the antibusiness sentiment. while the economy hasn<u+2019>t achieved the breakout growth many economists have hoped for, it has still performed better than other large industrial economies after the 2008 financial crisis. unemployment has fallen below 5% for most of the past year. low energy prices have offered relief to u.s. consumers and boosted auto sales. while the housing market is in better shape than at any time since before the housing bubble, rising rents and home prices have put more pressure on renters. stronger economic growth is expected to prod the federal reserve to raise interest rates at its meeting next month. <u+201c>the fact the economy appears to be shifting into a stronger gear is significant. if the economy continues to improve, the populist angst may subside,<u+201d> said greg valliere, chief global strategist at horizon investments. most polls suggest the republicans will retain control the house of representatives , which could provide industry with a buffer against higher taxes or other legislation, such as a federal increase in the minimum wage, aimed at industry. <u+201c>the house is still very much a pro-business body,<u+201d> said mr. valliere, in which case the populist groundswell over the past year may prove to be <u+201c>a lot of smoke, and not much fire.<u+201d> other executives say they worry about the cumulative effect of new regulations on everything from overtime pay to the environment. given executive power in appointing regulators and fleshing out regulations, <u+201c>having congress is a help, but it is not a huge help,<u+201d> said andy puzder, chief executive of cke restaurants and an adviser to mr. trump. the election could also lead to a bigger fight over the future of the republican party and big businesses<u+2019> role in it.<u+00a0>mr. trump<u+2019>s ascent reflects a view by many gop voters that their leaders too often put donor interests first. <u+201c>there is not much difference in a small business and the working people of america, all of whom do not feel that we have a voice in how our country works,<u+201d> said<u+00a0>jim<u+00a0>farrell, owner of a construction equipment firm in anniston, ala., who backs mr. trump. write to nick timiraos at nick.timiraos@wsj.com
pressure on big business likely to persist after the election - wsj
nick timiraos