Consider This from NPR What Would The Economy Look Like If Donald Trump Gets A Second Term?
Jan 28, 2024
Scott Horsley, NPR's Chief Economics Correspondent, discusses the economic landscape under a potential second term for Donald Trump. He unpacks Trump's claims about job growth and low unemployment, contrasting them with the pandemic's impact. The conversation dives into possible policies like import tariffs and permanent tax cuts, examining their implications for American jobs and the Republican party's internal conflicts. Insights on trade relations and the lasting effects of previous tax cuts reveal the complexities of a second Trump administration's economic agenda.
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Economic High Watermark
- During Donald Trump's first term, the US saw job growth, low unemployment, and a soaring stock market.
- This positive trend ended with the onset of the COVID-19 pandemic and subsequent lockdowns.
Unpredictable Policies
- Trump's economic policies blend traditional Republican approaches with populist and nativist elements.
- This mix creates unpredictability, making it challenging to forecast a second Trump term's economic impact.
Tariff Impact
- Trump's tariffs aimed to protect American jobs but often backfired, benefiting other countries.
- Despite this, protectionist trade policies have gained traction, influencing even the Biden administration.