AT&T (NYSE: T) is one of my largest positions currently. My investment in the company is based on the fact I believe the stock represents a great long-term total return opportunity. Nevertheless, the current macro market state of affairs has my contrarian instincts keyed up. Trump's overly protectionist policies and highly aggressive military actions could negate his pro-growth agenda and bring the markets tumbling down. In the following article, we will discuss what these developments mean for long-term dividend growth and income investors in AT&T.