Increased Trade Protectionism Former President Trump proposes significant changes to U.S. trade policy, including a sweeping 10% tariff on all imports and a hefty 60% levy on goods from China. This aggressive stance is likely to escalate trade tensions with European and Asian allies, and possibly even Canada. Trump also advocates for a weaker dollar to boost exports. While there were internal divisions within Trump’s administration regarding the extent of tariffs, and resistance from some Congressional Republicans during his first term, the current Republican party is more aligned with his anti-globalization views. However, U.S. businesses remain wary, fearing the potential loss of foreign markets and immigrant workers. Extending and Modifying Tax Cuts In 2017, Trump and a Republican Congress enacted a $1.7 trillion package… Read more
