Ex-BoE deputy governor Jon Cunliffe warns allies fear Trump could one day wield U.S. financial “kill switch,” disrupting payments via Visa, Mastercard and U.S. banks on which many Western economies still rely.

Sir Jon Cunliffe, the former Bank of England deputy governor for financial stability, warned that some U.S. allies fear Donald Trump could one day use America’s dominance over global payments infrastructure as a form of pressure, effectively creating a financial “kill switch.” The concern is not about a literal switch, but about the U.S. ability to influence or disrupt access to systems many countries rely on, including card networks such as Visa and Mastercard and U.S.-based banks that sit at the center of cross-border payments.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• Trump could flick financial payments 'kill switch', says ex-BoE official (straitstimes.com)
• The True Story (thetruestory.news)
• JM Finn's Jon Cunliffe: Trump's big pivot to Wall Street and why his ... (investmentweek.co.uk)
• US Federal Reserve - The Telegraph (telegraph.co.uk)
• Trump could 'weaponise' dollar against allies, warns former BoE ... (thetimes.com)

Explore the topic

• Visa
• Payments
• Trump
• Mastercard