Trump's proposed trade tariffs would dwarf any from modern experience.
swept through the U.S. economy, lowering consumer prices while causing massive losses of manufacturing jobs. Former President Trump's proposed tariff regime would be, in effect, an audacious attempt to reverse it.returns to the White House and enacts the aggressive program he has described on the campaign trail. They are not persuaded that a manufacturing renaissance would follow.
Those amount to an estimated price tag for attempting to reverse the shock to the U.S. economy that came after liberalizing trade with China in 2001 — which brought cheaper goods and lower inflation but alsoadopted on Monday embraces Trump-style protectionism. It says the party will support baseline tariffs on all foreign-made goods and phasing out essential items imported from China.
They could seek to manufacture the goods in the U.S., in line with the goals of a second Trump administration. They would face time delays getting factories in place, much higher wage costs and a labor market in which qualified workers are scarce.The flip side of job losses caused by the China shock was that it really did result in cheaper manufactured goods — pulling inflation down and real incomes up.
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