Rating agency Fitch says US President Donald Trump poses risk to world economy’

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Updated: February 11, 2017 1:31 AM

Fitch Ratings says President Donald Trump "represents a risk to international economic conditions," noting that his "aggressive tone" and willingness to float "unanticipated changes" to US policies could harm worldwide growth and make it more expensive for governments to borrow.

Fitch noted that other promised policies in a Trump administration such as tax cuts, fewer regulations and more infrastructure spending could boost US growth. (Reuters)Fitch noted that other promised policies in a Trump administration such as tax cuts, fewer regulations and more infrastructure spending could boost US growth. (Reuters)

Fitch Ratings says President Donald Trump “represents a risk to international economic conditions,” noting that his “aggressive tone” and willingness to float “unanticipated changes” to US policies could harm worldwide growth and make it more expensive for governments to borrow. Judging by its opening weeks, the Trump administration could potentially disrupt foreign trade, reduce the flow of capital, limit migration and provoke “confrontational exchanges” that could destabilize volatile financial markets, the credit ratings firm said in a Friday statement.

Fitch noted that other promised policies in a Trump administration such as tax cuts, fewer regulations and more infrastructure spending could boost U.S. growth. But its note stressed the possibility of Trump disrupting foreign economies as he seeks to renegotiate trade deals.

 

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House Democratic Leader Nancy Pelosi is praising a federal appeals court decision against reinstating President Donald Trump’s ban on travelers from seven predominantly Muslim nations, saying Trump proceeded on the issue in an “incompetent and strategically incoherent” way. Wrapping up their annual retreat in Baltimore on Friday, House Democrats reveled in the administration’s court loss. Pelosi said the ban would make Americans less safe.

“This is a major, major, major defeat for the administration,” said New York Rep. Joe Crowley, leader of the House Democratic Caucus. “And I think there will be more, because they will continue to overstep.”

Rep. Tom Price of Georgia has been sworn in as health and human services secretary, setting the stage for the conservative to play a leading role in dismantling President Barack Obama’s health care law. Vice President Mike Pence administered the oath to Price hours after he won Senate confirmation on a narrow 52-47 vote early Friday.

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