when elected president Donald Trump Returning to the White House in 2025, he will hold a key position in the US economy.
During the campaign, the former president promised Cancellation of regulations Suppress key U.S. industries and extend tax cuts that expire after 2025.
“Seventy-five years later, other countries will eventually reciprocate what we have done for the world,” the former president said during a presidential debate in September.
The goal of the tariffs is to generate revenue and bring industrial jobs back to the country. Side effects may be higher retail price for many American consumers.
“The irony is that this is not going to lead to a revitalization of the industrial sector,” said Marcus Nolan, executive vice president and director of research at the Peterson Institute for International Economics.
The president-elect also pledged to begin mass evictions when he took office.
Analysts believe that Trump’s fiscal philosophy may affect the trajectory of employment, inflation and other matters in the United States – especially if Republicans win both houses of Congress.
Watch the video above to see how the U.S. economy might change under President-elect Trump.
