Trump winning would slow global growth, Singapore’s state-owned investor warns
Donald Trump regaining the White House is likely to weigh on emerging markets and create uncertainty, says Temasek’s chief investment officer
A Trump administration would lead to slower global growth that would eventually affect US companies, according to Temasek International’s Chief Investment Officer Rohit Sipahimalani.
“I know the conventional wisdom and consensus is that right now a Trump presidency is better for markets,” Sipahimalani said on Tuesday in an interview, citing hopes for lower taxes and more deregulation. “But as you look out to 2025, the picture is not that clear.”
Sipahimalani said that while a Harris win would be beneficial for emerging markets, the opposite is likely under a Trump victory.
“A Trump win is probably going to mean a stronger dollar and higher rates than you would otherwise have in a Harris administration,” he said. “The tariffs are going to create uncertainty, which is never good for investment and actually I think it’ll be negative not just for emerging markets but across the world,” he said, adding that it would “impact global growth”.