Trump vs. Harris on the Economy
The Daily
Tariffs: A Grand Vision Without Economic Evidence
Tariffs imposed during the Trump administration, which have been continued by Biden, demonstrate a clear commitment to protectionist policies. Trump's proposal for a significant increase in these tariffs, from 10% to up to 20%, aims to tax all imports, suggesting an ambitious tariff agenda. However, historical data reveals that tariffs do not effectively generate millions of domestic manufacturing jobs as claimed. Instead, they cause price increases for consumers and squeeze profit margins for retailers, with minimal impact on employment levels. Misalignment between Trump's expectations and economic realities indicates a disconnect, as neither he nor his advisors acknowledge the lack of supporting evidence.
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