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The Daily Blast: Trump Hit by Two Brutal Polls on Econ as GOP Tariff Panic Goes Nuclear
Apr 1, 2025
In this discussion with Jared Bernstein, former chair of President Biden’s Council of Economic Advisers, the looming global tariffs proposed by Trump take center stage. Bernstein argues that these tariffs could lead to significant economic backlash even before they take effect. The podcast dives into shifting public opinions, with polling showing a decline in support for Trump's economic policies. Additionally, concerns arise about the impact on consumers and the growing discontent among Republican lawmakers trying to shield their constituents from the fallout.
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Quick takeaways
- Trump's sweeping global tariffs are predicted to exacerbate inflation and hinder economic growth, particularly affecting low-income households.
- Public opinion is shifting against tariffs, with voters increasingly recognizing them as a tax that raises consumer prices.
Deep dives
Impacts of Proposed Tariffs
The anticipated announcement of sweeping global tariffs by the President is expected to have broad and significant economic implications. These tariffs are not merely targeted measures on specific imports but rather an extensive imposition on multiple trading partners, including nations like Canada and Mexico. Economists argue that such sweeping tariffs could exacerbate inflation and stunt economic growth, creating a scenario of stagflation where both prices and economic output would decline. The primary outcome of these tariffs would be to increase the cost of everyday consumer goods, disproportionately affecting middle and low-income households who are already navigating financial challenges.
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