The Indicator from Planet Money What are Trump's economic plans?
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Sep 18, 2024 With the election looming, Donald Trump's economic proposals are in the spotlight. The discussion dives into his commitments to lower taxes and impose tariffs on China, examining potential impacts on consumer costs. The intricacies of trade deficits are highlighted, especially with ties to immigration policy changes. Furthermore, the podcast debates the benefits of deregulation and immigration for long-term growth, showcasing how these aspects intertwine with Trump's broader economic strategy.
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Trump's Tariff Proposal
- Donald Trump proposes significant tariffs, at least 60% on China and 10-20% globally.
- This aims to address the trade deficit and perceived economic damage from Chinese policies.
Potential Benefit of Tariffs
- Oren Cass argues that tariffs could generate revenue for the government or reduce other taxes.
- He believes the cost estimates of tariffs don't consider this potential offset.
Trump's Deportation Plan
- Donald Trump plans large-scale deportations of unauthorized immigrants.
- Oren Cass believes this will positively impact American workers' job availability.