Ljiljana on Trump tariffs
Newly re-elected US President Donald Trump’s pledge to place tariffs on foreign goods has been a global talking point with ING chief risk officer Ljiljana Čortan recently being interviewed by Bloomberg on the matter.
Ljiljana said ING would factor in any such move into its risk planning.
“If tariffs would become our new reality their impact would probably only be felt end of 2025 or early 2026, as it takes time for them to be implemented.”
“Some industries and regions would be likely hit harder than others, but strong companies in those industries and regions will be able to adapt,” she said.
Bloomberg noted that the potential tariff policies of the new Trump administration, which are also triggering anxiety among hedge- fund titans and investors, are only the latest in a string of global developments that have impacted how banks assess their balance sheet.
“We have to recognise that the volatility of geopolitics and its effect on the economy is the new normal,” she said.
“Beside all the human tragedy that first comes to my mind, crises have strongly affected the global economy. The traditional risk management approach isn’t suitable anymore,” she said.
Read the full article - ING Braces for Trump Fallout as Tariffs Cloud Trade Outlook
Ljiljana is not the only ING leader to comment on Trump’s tariffs with chief economist Marieke Blom writing an opinion piece for the Financial Times.
The risks of being too gloomy on Trump tariff plans