Today, Explained Make the economy Trump’s again?
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Feb 1, 2024 
Heather Long, an economics columnist for The Washington Post, and Henry Tricks, a business columnist of The Economist, dive into Donald Trump's economic record. They discuss the mixed results of his presidency, including tax cuts and trade wars, and how these may play out in his new political campaign. The duo also examines the implications of his tariff plans, the effects on inflation, and the U.S.-China trade tensions. Concerns about proposals that could destabilize the economy and the overall impact on American consumers are also highlighted.
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Trump's Economic Policies: A Sugar High
- Donald Trump's economic policies during his presidency are described as a "sugar high" due to substantial tax cuts.
- These cuts led to a temporary surge in GDP growth but increased the national debt and created economic instability.
Trade War Consequences
- Trump's trade war with China, including tariffs, led to some businesses shifting from China to other Southeast Asian countries.
- These tariffs increased consumer costs in the United States.
Immigration and the Economy
- Trump's immigration restrictions coincided with a job hiring boom and a 50-year low in unemployment.
- While some argue the restrictions helped native-born Americans, immigrants significantly contribute to the US economy through innovation and new businesses.