If Donald Trump wins the U.S. presidential election on Tuesday, U.S. trade protectionism will rise, which will drag down the U.S. economy and cause the country's finances to deteriorate, Taiwan's Central Bank Governor Perng Fai-nan (???) said in a written report released Monday.
Polls show a two-way race too close to call between Republican Party candidate Trump and his Democratic Party rival Hillary Clinton a day before Americans go to the polls to vote for their president.
Perng revealed his views on the U.S. presidential election in the report set to be handed to the Legislature's Finance Committee Wednesday, in anticipation that he will be asked about the impact of the outcome of the election on the development of global political and economic situations during the legislative session.
Perng said that a Trump presidency could give rise to U.S. trade protectionism and lead the U.S. to turn to a hardline position on illegal immigration. In addition, Trump's tax rate reduction plan would force the government to reduce expenditure and hurt the economy, as well as government finances.
A Trump victory could also increase political instability in the region due to increased levels of political uncertainty, according to Perng.
Source: Focus Taiwan News Channel