Trump’s win on US economy: Low taxes, high tariffs

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Donald Trump won the 2024 US presidential election; his victory is expected to bring significant economic changes, including proposed import tariffs of 10-20%; the US economy is currently experiencing strong growth, low unemployment, and inflation nearing the Fed's 2% target; consumer prices have surged over 20% post-pandemic; Trump's tariffs could raise business taxes by USD524 billion annually, shrink GDP by 0.8%, and reduce employment by 700,000 jobs; economists estimate Trump's policies could cut US economic output by 2.8-9.7% by 2028 and increase national debt by USD15 trillion; extending Trump’s 2017 tax cuts requires Congressional support; many of Trump's policies may negatively impact low-income individuals.

#Trump #Economy #Tariffs #TaxCuts #Inflation #Employment #Congress #NationalDebt #2024Election #Us

https://borneobulletin.com.bn/trumps-win-on-us-economy-low-taxes-high-tariffs/