Global Economic Bosses Fear Trump’s Win in the U.S. Election may Impact World Economy

Uncertainty in the outcome of the U.S. presidential election has become the talk of world economic meets. News organisations report that economic bosses fear that potential win by Republican Donald Trump will change the course of world economy and might even hit supply chains throughout the world.

Though initial surveys showed that Democratic candidate Ms. Kamala Harris held an edge over Republican candidate Donald Trump, but recent polls have erased much of the early advantages by Harris, and Trump seemed to be gaining. According to global news agency Reuters, possible impact of potential win by Trump has become talk of economic bosses at meetings of International Monetary Fund, World Bank and other such global economic institutions.

“Among concerns were Trump's potential to upend the global finance system with massive tariff increases, trillions of dollars more in debt issuance and a reversal of work to fight climate change in favour of more fossil fuel energy production,” Reuters has said in a report. Many economic bosses reportedly are feeling that Trump may win. 

Trump has vowed to impose a 10% tariff on imports from all countries, and 60% duties on imports from China—which means that Trump’s win will leave a reworking of global supply chain.

Voters in the U.S. want a departure in policies and programmes pursued by Joe Biden administration, and though Ms. Harris is trying hard to look different, she is largely being seen as “continuing Biden's multilateral engagement”, according to news organisations. This is why Trump’s promises are being seen as an alternative by the voters.