Donald Trump’s victory in the race to become the next US president will have economic consequences for the rest of the world that are likely to be deep and quite immediate.

For local business communities, Donald Trump’s victory in the presidential race has been shorthand for the expectation that Western apparel orders and some foreign investments would shift to Bangladesh, with global fashion powerhouse China possibly facing higher import tariffs from the US.

The US economy saw resilient growth in the third quarter despite a modest slowdown according to government data Wednesday, less than a week before inflation-weary voters head into the presidential election.

Asian Infrastructure Investment Bank (AIIB) President Jin Liqun on Saturday criticized advanced economies for creating trade barriers including for renewable energy goods, saying there was “no longer free trade” in the global economy.

Republican presidential candidate Donald Trump wants to bring back US manufacturing and lower costs, relying on tariffs to boost US coffers and exert pressure on other countries -- but the reality is less straightforward.

From holding back investments to considering moving abroad, businesses in the United States are bracing for more economic turbulence as the presidential campaign kicks into high gear -- with fresh tariffs rolled out and promises of more.

The IMF approved reforms on Friday that will lower members’ borrowing costs by 36 percent and lift eight indebted countries out of the requirement to pay more to borrow money.

Cooling inflation, low unemployment, robust economic growth and... downbeat voters.

Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as US President Joe Biden discouraged Israel from targeting Iranian oil facilities.

US manufacturing activity contracted for a sixth straight month in September, according to survey data released Tuesday, with demand remaining weak and new export orders slumping.

The US Federal Reserve cut its key lending rate by half a percentage-point Wednesday in its first reduction for more than four years, sharply lowering borrowing costs shortly before November’s presidential election.

The United States locked in tariff hikes on billions of dollars worth of Chinese goods Friday, with a 100 percent duty on electric vehicles and 25 percent on EV batteries taking effect in two weeks.

US presidential hopefuls Kamala Harris and Donald Trump clashed on China and economic issues Tuesday, with the Democratic candidate saying he “sold us out” on China while the former president declared “they’ve destroyed the economy.”

US hiring bounced back in August but missed expectations while the jobless rate crept down, government data showed Friday, paving the way towards central bank rate cuts in the coming weeks.

Kamala Harris’s price gouging policy has been criticized by economists and analysts, who say it is an uncompetitive proposal that could end up hurting, and not helping, US consumers.

The European Commission said Tuesday it plans to slap five-year import duties of up to 36 percent on Chinese electric cars, unless Beijing can offer an alternative solution to the damaging trade row over state subsidies.

Bangladesh’s dependence on the US for soybeans has been increasing, particularly after the outbreak of the Russia-Ukraine war, with local traders, millers and conglomerates diversifying their sourcing for uninterrupted supply of edible oil and animal feed.

More Japanese companies believe a Kamala Harris presidency in the US would be better for their businesses than a second Donald Trump administration, a Reuters survey showed on Thursday, reflecting the respondents concerns about protectionism and policy unpredictability.

Prospects for the US economy appear to be flagging with slower growth expected in the coming months, as November’s presidential election and inflation contribute to uncertainty, the Federal Reserve said Wednesday.

US job gains eased slightly in June while unemployment edged up, government data showed Friday, in a sign that the world’s biggest economy is cooling steadily as policymakers hope.