One Big Beautiful Bill: IMF warns on Trump bill

The 'One Big BeautifulBill' presented by US President Donald Trumpwas recently approved in the US. The bill mainly focuses on issues such as tax cuts and spending increases. However, the International Monetary Fund (IMF) has warned that if it is implemented, it could put a huge burden on the US economy.

$4 trillion burden IMF representative warns

IMF spokeswoman Julie Kozak said the bill could cost the US an additional $4 trillion over the next 10 years. She noted that US government debt has already reached 98% of the country's gross domestic product (GDP). She said the combination of spending increases and tax cuts will create a revenue shortfall for the government and affect financial stability.

Care is needed in financial administration

According to the IMF, developed countries like the United States also need to demonstrate strong strategic leadership in economic governance. It warns that significant debt risks affecting the country's financial rating, which could have an impact on global markets. Whether the Trump bill will be implemented effectively or not has now become the most crucial question for the American economy.

Read Also: Kim Jong Un: Kim fires back at Quad statement