Swaminathan Aiyar, Consulting Editor, ET Now in an interview covers potential impacts of the upcoming U.S. elections on global and Indian markets. He notes that the tight race between candidates could delay results, which may increase market volatility.A Democrat win, led by Kamala Harris, would likely mean policy continuity for India, while a Trump victory could lead to aggressive tariffs and protectionist measures that might spark trade tensions, especially if Republicans also secure Congress.Aiyar warns that a trade war scenario could harm global markets, with severe consequences for India and China.However, a gridlocked U.S. Congress might limit any drastic policy shifts, offering some stability. He also highlights “Trumpism” as an influential factor that could shape future policies, regardless of election outcomes.
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December 8, 2025