Tariff Man's New Tariff Plan

Former President Donald Trump has proposed a new plan to set a 10% tariff on all imports from all countries. However, this proposal would have several negative effects on the US economy. First, it would slow down the economy as closed economies grow slower than open economies. Second, it would fuel inflation by increasing the prices of imported goods for consumers. Additionally, it would reduce the global competitiveness of US manufacturing, especially in the case of intermediate goods used for production. Overall, implementing this tariff plan would be detrimental to the economy.