IMF, World Bank Warn of Trump Presidency Risks

At the recent International Monetary Fund and World Bank meetings, finance leaders expressed significant concerns over the potential return of Donald Trump to the U.S. presidency amid issues of low growth and high debt. Trump's resurgence in polls has raised fears about his proposed policies, including a 10% tariff on imports and 60% duties on China, which could disrupt global supply chains and trigger retaliatory measures. Central bankers, including Bank of Japan Governor Kazuo Ueda, highlighted the uncertainty surrounding Trump's potential victory and the resulting policy shifts. Additionally, Trump's tax cuts could add over $7.5 trillion to U.S. debt, further complicating economic recovery efforts. In contrast, his opponent Kamala Harris is seen as less likely to impact U.S. debt significantly. The discussions reflect the heightened anxieties within the global economy as the U.S. election approaches.