Donald Trump's trade protectionism keeps intensifying
Published On Sep 24, 2024, 2:47 PM
Donald Trump has intensified his trade protectionism rhetoric, proposing tariffs as high as 200% on Mexican auto imports and targeting U.S. companies like John Deere that move manufacturing abroad. He aims to lure companies back to the U.S. with lowered corporate tax rates and aggressive tariff policies, which he believes will bolster American manufacturing. Trump's approach has drawn criticism from economists and political opponents, warning that these policies could lead to increased consumer prices and inflation.
Stock Forecasts
DE
Negative
Trump's promises of high tariffs coupled with corporate tax cuts may create volatility in the market, particularly affecting industries reliant on international trade. If implemented, such tariffs may reduce profit margins for affected companies and lead to retaliatory measures from other nations.
GE
Positive
The focus on returning manufacturing to America could boost companies that are positioned well to take advantage of potential tax breaks and incentives for domestic production. Companies like GE and IBM may benefit from a potential influx of domestic manufacturing investments if companies follow through on moving back to the U.S.
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Donald Trump's trade protectionism keeps intensifying
Sep 24, 2024, 2:47 PM
Donald Trump took his trade rhetoric to new heights in a series of events this week, doubling down on the possibility of 200% tariffs on Mexican autos and raising the possibility of targeting specific companies if they try to move their manufacturing outside of the US.