Global finance leaders face a major uncertainty as they meet in Washington next week: Who will win the U.S. presidential election and shape the policies of the world鈥檚 biggest economy?
Republican nominee former President Donald Trump and Democratic nominee Vice President Kamala Harris have spoken little about their plans for the International Monetary Fund and the World Bank. But their differing views on trade, tariffs and other economic issues will be on the minds of the finance leaders as they attend the financial institutions' annual meetings.
IMF Managing Director Kristalina Georgieva alluded to what鈥檚 at stake in a curtain-raiser speech Thursday ahead of the meetings.
Without naming Trump, she warned that 鈥渕ajor players, driven by national security concerns, are increasingly resorting to industrial policy and protectionism, creating one trade restriction after another.鈥
She said trade 鈥渨ill not be the same engine of growth as before,鈥 warning that trade restrictions are 鈥渓ike pouring cold water on an already-lukewarm world economy.鈥
Trump promises as president to impose a 60% tariff on all Chinese goods and a 鈥渦niversal鈥欌 tariff of 10% or 20% on everything else that enters the United States, insisting that the cost of taxing imported goods is absorbed by the foreign countries that produce those goods.
However, mainstream economists say they actually amount to a tax on American consumers that would make the economy less efficient and send inflation surging in the United States.
Trump has also embraced isolationism and heavily criticized multilateral institutions. During his first term, he signed an executive order to withdraw from the Trans-Pacific Partnership trade deal, and replaced the North American Free Trade Agreement with the United States-Mexico-Canada Agreement. His administration blocked new appointments to the World Trade Organization appellate body as the terms of its judges expired, leaving the organization without a functional appellate body.
World Bank President Ajay Banga, who also made a speech Thursday previewing the meetings, spoke directly about the election in a question-and-answer session with reporters. He credited Trump for increasing investment in the International Bank for Reconstruction and Development during his presidency, which offers loans to middle-income developing countries.
鈥淭hen the question will be, how will the nuances of each administration be different,鈥 Banga said. 鈥淚 don't know yet so I'm not going to speculate on how to deal with them.鈥
Harris has not specified her views on the World Bank or IMF, though even as she has embraced some tariffs, is more likely to continue the Biden administration approach favouring international cooperation over threats. The Biden-Harris administration has not eliminated tariffs imposed on China during the Trump administration and in May also slapped major tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment.
Harris met Banga in June 2023 when he began his five-year term as World Bank president and released a statement then that 鈥減raised the steps taken to evolve the World Bank鈥攊ncluding expanding its mission to include building resilience to global challenges like climate change, pandemics, fragility and conflict."
Georgieva who did not speak about the election directly in her speech, said: 鈥淲e live in a mistrustful, fragmented world where national security has risen to the top of the list of concerns for many countries. This has happened before 鈥 but never in a time of such high economic co-dependence. My argument is that we must not allow this reality to become an excuse to do nothing to prevent a further fracturing of the global economy.鈥
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an 鈥渋nnocent鈥 couple in Ontario in 2023, authorities say.
Federal cabinet ministers Filomena Tassi, Carla Qualtrough, and Dan Vandal announced Thursday they will not run for re-election. Senior government sources tell 麻豆传媒 at least one other 鈥 Marie-Claude Bibeau 鈥 doesn't plan to run again, setting the stage for Justin Trudeau to shuffle his cabinet in the coming weeks.
One Direction pop star Liam Payne died of multiple traumas and internal bleeding after plunging from a hotel balcony in Buenos Aires, prosecutors said on Thursday, adding an initial search suggested the fall came after substance abuse.
Israeli forces in Gaza killed top Hamas leader Yahya Sinwar, a chief architect of last year鈥檚 attack on Israel that sparked the war, the military said Thursday. Troops appeared to have run across him unknowingly in a battle, only to discover afterwards that a body in the rubble was Israel鈥檚 most wanted man.
The Ontario Hockey League (OHL) has released a statement in response to a recent CTV W5 investigation into an alleged sexual assault in 2014.
According to Google search data, the top Halloween costumes trending in Canada include everything from Taylor Swift for kids to the Joker and Harley Quinn for couples.
Police are investigating a fire at a home in Dorval owned by Emile Benamor, the owner of the two Old Montreal buildings that were allegedly set on fire in the past year, killing nine.
Shane Gross, a Canadian marine conservation photojournalist, has won the title of Wildlife Photographer of the Year.
A Montreal business owner will have to pay a hefty fine after he imported a luxury watch without declaring it to customs.
Some doctors in Ottawa say the pile of paperwork they're doing every day has been steadily growing as more public service workers seek doctor's notes in order to receive accommodations to work from home.
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an 鈥渋nnocent鈥 couple in Ontario in 2023, authorities say.
Police are investigating a fire at a home in Dorval owned by Emile Benamor, the owner of the two Old Montreal buildings that were allegedly set on fire in the past year, killing nine.
Prime Minister Justin Trudeau says Israel's killing of Hamas leader Yahya Sinwar in the Gaza Strip 'ends a reign of terror.'
Trustees with an Ontario school board are responding to criticism over a $45,000 trip to Italy, where they purchased more than $100,000 worth of religious statues.
An intoxicated person living on Highway 17 in Spragge, Ont., has been arrested for making repeated false 911 calls in a span of several hours Oct. 11.
For months, frustrated American officials looking to end the war in Gaza have mused quietly about the one scenario they believed could loosen deadlocked ceasefire talks: the death of Hamas leader Yahya Sinwar,
Yahya Sinwar masterminded an attack on Israel that shocked the world, unleashing a still-widening catastrophe with no end in sight.
A Georgia grand jury has indicted both a father and son in a mass shooting at Apalachee High School in Winder.
Global finance leaders face a major uncertainty as they meet in Washington next week: Who will win the U.S. presidential election and shape the policies of the world鈥檚 biggest economy?
A new fire station in central Germany, which was destroyed in a fire, causing millions of euros in damage and destroyed equipment did not have a fire alarm system, local media reported Thursday.
Mitch McConnell said after the 2020 election that then-U.S. president Donald Trump was 'stupid as well as being ill-tempered,' a 'despicable human being' and a 'narcissist,' according to excerpts from a new biography of the Senate Republican leader that will be released this month.
Federal cabinet ministers Filomena Tassi, Carla Qualtrough, and Dan Vandal announced Thursday they will not run for re-election. Senior government sources tell 麻豆传媒 at least one other 鈥 Marie-Claude Bibeau 鈥 doesn't plan to run again, setting the stage for Justin Trudeau to shuffle his cabinet in the coming weeks.
NDP Leader Jagmeet Singh says it's very disturbing that Conservative Leader Pierre Poilievre won't get the top-level security clearance needed to view classified documents on foreign interference.
The representative plaintiffs in a class-action lawsuit against Canada are urging First Nations chiefs to accept a landmark $47.8-billion child welfare reform deal.
Patients who are older, don鈥檛 speak English, and don鈥檛 have a high school education are more likely to experience harm during a hospital stay in Canada, according to new research.
Health Canada released an advisory Wednesday warning that baby walkers available online may pose a risk of injury and reminding consumers the items are already banned in Canada.
Coca-Cola has recalled more than 13,000 cases of Minute Maid Zero Sugar Lemonade because the mislabelled cartons actually contained the full-sugar version of the drink, according to a report from the U.S. Food and Drug Administration.
Just weeks before the U.S. presidential election, TikTok approved advertisements that contained election disinformation even though it has a ban on political ads, according to a report published Thursday by the nonprofit Global Witness.
At the heart of the ancient city of Petra, Jordan, carved into pink sandstone cliffs, lies an elaborate monument known as the Khaznah, or the Treasury. And buried beneath that edifice, archeologists recently discovered, is a tomb with at least 12 human skeletons and artifacts that are estimated to be at least 2,000 years old.
Expect to see more northern lights in unusual places as the sun continues to sizzle, space weather forecasters said Tuesday.
The death of Liam Payne, who shot to stardom as a member of the boy band One Direction and grappled with intense global fame while still in his teens, sent shockwaves across the world Thursday as Argentine authorities continued their investigation at the scene.
Mitzi Gaynor, the effervescent dancer and actor who starred as Nellie Forbush in the 1958 film of 'South Pacific' and appeared in other musicals with Bing Crosby, Frank Sinatra and Gene Kelly, has died. She was 93.
Shane Gross, a Canadian marine conservation photojournalist, has won the title of Wildlife Photographer of the Year.
Meta says it has laid off some employees, including staff at WhatsApp And Instagram, to realign its resources with its 鈥渟trategic goals.鈥
Dozens of people rallied outside the Michigan headquarters of WK Kellogg Co. Tuesday, demanding that the company remove artificial dyes from its breakfast cereals in the U.S.
Coca-Cola has recalled more than 13,000 cases of Minute Maid Zero Sugar Lemonade because the mislabelled cartons actually contained the full-sugar version of the drink, according to a report from the U.S. Food and Drug Administration.
According to Google search data, the top Halloween costumes trending in Canada include everything from Taylor Swift for kids to the Joker and Harley Quinn for couples.
Experts weigh in on 'moon face', a condition social media users say is swelling in parts of the face caused by the stress hormone cortisol.
Luxury fashion house Prada and commercial space company Axiom Space have unveiled the designs for a spacesuit that will be worn for NASA鈥檚 Artemis III moon mission.
The Ontario Hockey League (OHL) has released a statement in response to a recent CTV W5 investigation into an alleged sexual assault in 2014.
The game against the San Jose Sharks is Hellebuyck Night 鈥 a night to recognize Connor Hellebuyck and his success last season winning both the Vezina and William M. Jennings trophies.
麻豆传媒' Rachel CrowSpreadingWings sat down with legendary Inuk hockey player Jordin Tootoo for an open conversation on his new documentary, Tootoo: The Jordin Tootoo Story. The film takes a look at achievements throughout his hockey career and his struggles with addictions.
Canada鈥檚 border guards have seized more than 1,900 stolen cars so far this year at railyards and ports, which is over a hundred more than in 2023.
The Ontario Provincial Police says the number of fatal collisions caused by distracted driving on the roads it patrols has increased by 40 per cent compared to this time last year.
Tesla CEO Elon Musk unveiled on Thursday his vision of a 'a fun, exciting future,' an 'age of abundance' full of his company鈥檚 self-driving cars without steering wheels, parking lots turned into parks and robots that will walk among the population 鈥 that he once again promised would be available within a few years.
John Cantin vividly remembers opening day for his Victoria diner. Stress levels were high, tables were full, and one of the most popular menu items couldn鈥檛 be freed from the unyielding grip of the waffle maker.
A Manitoba professor is warning the public after a book on regional mushrooms that he suspects is AI-generated was delisted from Amazon.
A B.C. judge has issued a decision in a years-long dispute between neighbours that began with a noise complaint over barking dogs, crowing roosters and quacking ducks 鈥 awarding $15,000 in damages to the plaintiffs in the case.
An Ottawa man was arrested after taking a shower in a stranger's house, Ottawa police say.
S岣祑x瘫w煤7mesh 脷xwumixw (Squamish Nation) Chef Paul Natrall, the man behind Indigenous food truck Mr. Bannock, is bringing cooking classes on First Nations fare to schools and offices throughout Metro Vancouver.
The Celtic Colours Festival is taking place at venues around Cape Breton Island in Nova Scotia from Oct. 11 to 19.
Sometimes love is written in the stars, but for one couple, it鈥檚 written in the aurora borealis.
Canadian hip hop artist Dillan King says running 100 marathons in 100 days was not only the hardest thing he has ever done, but the 'proudest accomplishment' of his entire life.
James Taylor never expected to be walking home with a bag full of groceries he didn't buy.
Mounties in Surrey seized illicit substances and weapons and made more than a dozen arrests during a one-day crackdown on "open air drug traffickers" in the city centre last week.
Animal protection officers in British Columbia say they have seized a dog and will be recommending criminal charges against its owner after it was dragged behind a vehicle in the province's Interior.
Three teenage girls from B.C.'s Lower Mainland have been criminally charged in connection with a pair of violent attacks that took place on transit over the summer.
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an 鈥渋nnocent鈥 couple in Ontario in 2023, authorities say.
The Ontario Hockey League (OHL) has released a statement in response to a recent CTV W5 investigation into an alleged sexual assault in 2014.
Federal cabinet ministers Filomena Tassi, Carla Qualtrough, and Dan Vandal announced Thursday they will not run for re-election. Senior government sources tell 麻豆传媒 at least one other 鈥 Marie-Claude Bibeau 鈥 doesn't plan to run again, setting the stage for Justin Trudeau to shuffle his cabinet in the coming weeks.
Police are investigating after the body of a student was found in a residence at the Southern Alberta Institute of Technology in Calgary.
A Calgary dad is pleading to have his modified 1999 Honda Civic returned after it was stolen by thieves in the community of Legacy over the Thanksgiving long weekend.
After more than seven years of construction, a new cancer centre in Calgary will be opened to patients and researchers.
Some doctors in Ottawa say the pile of paperwork they're doing every day has been steadily growing as more public service workers seek doctor's notes in order to receive accommodations to work from home.
Ottawa police say they have determined a man's death in downtown Ottawa was not a homicide.
The Ottawa Police Service is asking the public for help in identifying three suspects involved in an alleged theft and multiple fraud incidents that happened last month in the city's west end.
Police are investigating a fire at a home in Dorval owned by Emile Benamor, the owner of the two Old Montreal buildings that were allegedly set on fire in the past year, killing nine.
A young man sustained serious head injuries when he was hit riding an electric unicycle by a vehicle reported to be street racing in Montreal's Mercier neighbourhood on Thursday.
Police are investigating after two bodies were discovered in a vehicle in the Saint-Leonard borough.
Edmonton education support staff could be heading to the picket lines.
Edmonton police are asking the public for CCTV footage as they investigate two fires that appear to have been deliberately set as part of an extortion scheme.
Alberta Premier Danielle Smith says her plan to "Uber-ize" and replace the province's online continuing care directory is aimed at making it easier for patients to navigate, and the analogy shouldn't be taken too far.
A profane anti-Israel message on a digital billboard in Moncton, N.B., has been turned off, but the question of how it got there in the first place remains.
The Nova Scotia government is adding new specialized staff to schools to help prevent and address violence.
All three of New Brunswick鈥檚 main party leaders returned to the campaign trail Thursday following CTV Atlantic's roundtable discussion Wednesday night.
A 52-year-old man has been charged after six bison were killed in an illegal hunt on a Manitoba farm.
Manitoba skygazers are in store for quite the celestial show this week.
The game against the San Jose Sharks is Hellebuyck Night 鈥 a night to recognize Connor Hellebuyck and his success last season winning both the Vezina and William M. Jennings trophies.
STARS Air Ambulance and Craik RCMP were called to a serious collision on Highway 2 west of Chamberlain, Sask. on Thursday afternoon.
The sole debate for the 2024 provincial election has wrapped 鈥 with both sides satisfied that they've successfully made their respective cases on the debate stage.
Following the debate between Saskatchewan Party Leader Scott Moe and NDP Leader Carla Beck, two local experts gave their insights on the event.
Trustees with an Ontario school board are responding to criticism over a $45,000 trip to Italy, where they purchased more than $100,000 worth of religious statues.
One person has been taken to hospital with life-altering injuries after a serious crash near Cambridge.
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an 鈥渋nnocent鈥 couple in Ontario in 2023, authorities say.
The U17 Saskatoon Alliance won their provincial soccer league title, earning them a spot at nationals. But just to survive nationals is a grueling experience.
The Prince Albert Police Service is investigating after unidentified human remains were found in the city.
A former Saskatchewan rapper turned political candidate apologized Tuesday for lyrics that the incumbent Saskatchewan Party has criticized as misogynistic.
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an 鈥渋nnocent鈥 couple in Ontario in 2023, authorities say.
An intoxicated person living on Highway 17 in Spragge, Ont., has been arrested for making repeated false 911 calls in a span of several hours Oct. 11.
One Direction pop star Liam Payne died of multiple traumas and internal bleeding after plunging from a hotel balcony in Buenos Aires, prosecutors said on Thursday, adding an initial search suggested the fall came after substance abuse.
OPP have closed a section of road in Middlesex County following a crash.
A Nova Scotia man crossing Canada on foot is passing through southwestern Ontario. Trevor Redmond is perhaps better known as the 鈥楩ellow in Yellow.鈥
On October 21, 2024, a nationwide rally will take place to raise awareness and advocate for the end of violence toward women and children.
An Orillia man has been arrested four months after a collision on Highway 12 in Ramara Township that police say claimed the life of a senior.
Provincial police are investigating the alleged theft of a classic car from an address in the Town of Mono.
Two roads in Bradford West Gwillimbury will close for nearly two months as part of a $17.4 million project to reconstruct and rehabilitate local roads.
Windsor police are investigating shots fired in a quiet east Riverside neighbourhood.
Closing arguments are complete in a careless driving trial in Chatham.
LaSalle police say they have identified the youth responsible for writing a threatening message in a bathroom at Sandwich Secondary School.
John Cantin vividly remembers opening day for his Victoria diner. Stress levels were high, tables were full, and one of the most popular menu items couldn鈥檛 be freed from the unyielding grip of the waffle maker.
Animal protection officers in British Columbia say they have seized a dog and will be recommending criminal charges against its owner after it was dragged behind a vehicle in the province's Interior.
Elections BC says a record number of British Columbians have already cast their ballots in advance voting before Saturday's provincial election.
Dave Lindsey began growing giant pumpkins to bring a bit of magic to his grandkids' Halloween.
A U.S. District Court judge in Montana has sentenced a 27-year-old man from Kelowna, B.C., to 18 months in prison for using fake names to buy guns with the aim of selling them in Canada.
Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.
With the growing season wrapping up for many, southern Alberta's sweetest crop is in full swing.
Health-care advocates say the province's plan for a new primary care agency, operating separately from Alberta Health Services, won't help with doctor shortages in Lethbridge.
The Vancouver Giants scored late to force overtime before winning 4-3 over the Lethbridge Hurricanes Friday night.
A 21-year-old who was already on probation has been charged after an armed intruder entered a victim's home early in the morning Oct. 11 in the Town of Spanish.
The Ontario Medical Association, which represents the province's 43,000 physicians, medical students and retired physicians, launched their Stop the Crisis initiative Wednesday.
An effort to bring a deep-sea port to Sault Ste. Marie just got a major push forward, with support from the federal government Wednesday.
A five-hour drive from St. John's, N.L., and well off the beaten path, Point Leamington seems an unlikely spot for a one-of-a-kind tourist attraction.
A Conservative MP from Newfoundland and Labrador says some small towns in his rural riding are overrun with crime, but police say they haven't received reports to that effect.
As millions in federal funding flow into a Labrador group whose claims of Inuit identity have been rejected by Indigenous organizations across Canada, a national Inuit leader worries the Liberal government is putting the rights of Indigenous Peoples at risk.
The Shopping Trends team is independent of the journalists at 麻豆传媒. We may earn a commission when you use our links to shop.聽Read about us.
