World Economic Leaders Are Watching Trump Become US President, What’s Going On?

Jakarta –

The United States (USA) will hold presidential elections next November. World economic leaders are worried that Donald Trump will return to being number one in the US because of many policies that will trigger a trade war.

Launch ReutersOn Monday (28/10/2024), Trump previously vowed to impose a 10% tax on imports from all countries, while tariffs on imports from China would be set at 60%. Trump also tried to attract the attention of US voters by offering various tax breaks.

In the series of Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB) in Washington DC on 22-26 October 2024, the world’s finance officials and central bank governors of each country are consider the US Presidential Election.

Bank of Japan Governor Kazuo Ueda said the concern was Trump’s ability to overturn the global financial system by dramatically raising taxes, taking on more debt and encouraging fossil fuel energy production.

“Everyone seems to be concerned about the high level of uncertainty about who will be the next president, and what policies will be pursued under the new president,” Ueda said, on announced by Reuters, Monday (28/10/2024).

Now the market and investors are starting wait and see. They are waiting for the results of the United States Presidential Election. On the one hand, the IMF assesses that global efforts to fight against inflation have been largely successful because the strength of the US economy offsets weakness in China and Europe.

On the other hand, the Managing Director of the IMF Kristalina Georgieva urged policymakers to start reducing the debt caused by COVID-19. When asked about Trump’s influence if he is elected in the US Presidential Election, Georgieva stressed that the meetings of the IMF and the World Bank were aimed at solving the economic problems they faced.

“The feeling of membership is an election for the US, but what we need to recognize is what the challenges are and how the IMF can constructively address these challenges,” said Georgieva.

(fdl/fdl)