Reuters stated in a report that Trump's victory in the 2024 elections will lead to a risky time for the United States and rest of the world, saying that his economic policies to cut taxes and deregulate markets may be good for companies and markets but it carries great risks for the ordinary people.
Imposing higher tariffs and increasing inflation can lead to higher prices of goods for the general consumers, the new agency opined on Trump's economic plans.
"Trump's fiscal pledges are seriously troublesome – for the US economy and for global financial markets – as they promise to vastly expand an already excessive deficit at the same time as he threatens to undermine key institutions," Reuters quoted Erik Nielsen, UniCredit's Group Chief Economics Adviso.
The same forces that could push up US inflation could weigh on prices elsewhere, especially if Trump slaps oversized duties on China as he has promised.
About the foreign policy of the new American administration, it said that Washington’ relations with its allies will be jeopardized. “Trump will probably strengthen relations with Russia on the one hand and increase the pressure on China on the other, an approach that could lead to the escalation of tensions between Beijing and Washington”.
Europe could also suffer the added blow of increased defense costs if Trump reduces support for the North Atlantic Treaty Organization (NATO).
Reuters also reminded Trump's anti-environmental policies and said that they can lead to a delay in the realization of efforts towards achieving global goals on climate change.
This English-language media also wrote about the domestic scenario of policies of the new president in the White House.
“Trump's approach to weaken democratic institutions and his lack of trust in the judicial system can endanger the internal stability of the United States and global stability”, Reuters predicted.
Former Republican President Trump defeated his Democratic challenger and Vice President Kamala Harris by winning 277 electoral votes. He will take oath in January as the 47th president of the United States after a non-consecutive second term to the White House.
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