Businesses aren't sure what to make of President Trump

Companies in Minnesota and nationwide are trying to figure out what the Donald Trump presidency will mean for them.

The Republican has promised to scrap trade deals, impose tariffs and cut taxes, which leaves business leaders with a lot of uncertainty.

"He didn't lay out tons of specifics," said Shaye Mandle, president of the trade group Medical Alley Association. "So, I think learning more about some of the specifics of what he's interested in doing is something that we're all waiting for."

Medical Alley has a shopping list though. The association, which represents medical technology and health care organizations in the state, would like to see a permanent repeal of the Affordable Care Act's tax on medical devices, along with lower taxes overall.

"Many of those perspective changes, be it tax reform or ACA reform, that could be on the horizon are things that we could be very positive about," Mandle said. "But we need to know more about exactly what the pathway forward is going to be."

In addition to the tax breaks, Medical Alley wants to preserve trade policies that help companies sell their products around the globe.

Trade is also a big concern for Minnesota farmers who don't want to see their exports cut because of trade disputes.

"A significant portion of Minnesota's production of agriculture — corn soybeans and wheat — is destined for the export market," said Harold Wolle, president of the Minnesota Corn Growers Association.

There's a lot at stake for farmers: Minnesota exported $7.3 billion in agricultural products in 2014.

At least one business sector has some expectation the Trump administration will be good for business.

"In the construction industry, I would say that we are optimistic that some things are going to get done," said Dave Semerad, CEO of Associated General Contractors of Minnesota, whose members include construction firms such as Opus, Mortenson, and Kraus-Anderson.

Both big and small construction firms hope Trump can follow through on promises to invest in fixing the nation's roads and other infrastructure.

While specifics for some of Trump's plans are a relative unknown for now, Minnesota Business Partnership executive director Charlie Weaver expects them to come into clearer focus once he's in office.

Weaver likes what he hears from Trump about cutting regulation and taxes, especially on the profits companies want to bring back to the U.S. from overseas operations.

Despite all the uncertainty, the stock market didn't seem worried about Trump on Wednesday. All major indexes rose more than 1 percent.

All but a handful of major Minnesota employers saw their share prices rise.

Ameriprise shares rose more than 12 percent. Medtronic's stock lost less than 2 percent.