Their concern is related to the possible intensification of trade conflicts, especially between the US and the EU, which poses a threat to global economic stability. According to Reuters, the main risk is the possible collapse of the global financial system.
One of the main steps Trump plans to take is to impose a 10% tariff on imports from all countries and significantly increase tariffs on goods from China – up to 60%. This could lead to disruptions in global supply chains, affecting prices and production costs around the world.
German Finance Minister Christian Lindner stressed that the trade war between the US and the EU will bring negative consequences to both sides. Given that both economic forces are key players in the global market, the conflict will cause serious economic damage to both American and European companies. At the same time, along with protectionist measures, Trump is proposing tax cuts within the country. He plans to eliminate taxes on tips, overtime pay and pension benefits, and extend all 2017 tax breaks. However, experts warn that such measures could significantly increase the US national debt.
In contrast to Trump's plans, Kamala Harris' victory is seen as maintaining the current course of multilateral cooperation launched by Joe Biden. Her administration has resumed negotiations with other countries on climate, taxes and debt reform. While Harris's plans could also lead to higher budget deficits, they are aimed at stabilizing international relations, not worsening conflicts.