2024-10-17 13:29:09
Economy
Politics
USA
The Economic Impact of Trump's Tariff Plans
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New York Times - Economy
Yellen to Warn Sweeping Tariffs Would Ignite Inflation
Politics
Economy
As Treasury Secretary, Yellen plans to warn that Trump's proposed sweeping tariffs, including 10-20% on most foreign goods, 60%+ on China, and up to 50% across-the-board, would fuel inflation and harm US businesses. Yellen will criticize Trump's past tariff actions and re-election plans to further increase tariffs.
Diplomacy - South China Morning Post
US Treasury chief suggests Donald Trump’s tariff plan will hurt families and businesses
Politics
Economy
US Treasury Secretary Janet Yellen warns that higher import tariffs pushed by former president Donald Trump, including 25% tariffs on US$300 billion worth of mainland imports, would drive up domestic inflation, hurt American families and businesses, and set back global security efforts. Trump has claimed the tariffs have helped cut America's trade deficit with China while boosting US job growth, and has pledged to use tariffs to lower trade deficits, but Yellen says "untargeted tariffs" are "d..
New York Times - Business
Is the Trump Trade Back?
Politics
Finance
Economy
Investors believe Trump's victory would benefit certain sectors and assets, as the dollar approaches a two-and-a-half month high with currency traders pricing in a Trump win, betting his policies of lower taxes and less regulation would drive up inflation and lower bond prices. However, Trump wants a weak greenback, and Holger Schmieding of Berenberg bank argues higher tariffs and less immigration under Trump would hurt U.S. economic vitality in the long run.
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