As of now, U.S. voters face a choice between President Joe Biden and former president Donald Trump in presidential elections this November. And business leaders around the world—including in Southeast Asia, which tries to balance its U.S. and Chinese relationships—are plotting out what either result will mean.
DBS CEO Piyush Gupta, speaking to a Reuters conference audience on Tuesday, said the general view of Trump's policy suggestions is that they paint a "pretty negative picture." The banking CEO pointed to the former president's call to have tariffs as high as 60%, suggesting they will lead to inflation and could push the U.S. Federal Reserve to keep interest rates high. That, in turn, will put pressure on currencies around the world, with some already running at record lows against the U.S. dollar.
