Trump's trade rhetoric may not be all bluster. He needs mammoth tariffs to pay for everything else he wants.

Published On Oct 15, 2024, 2:40 PM

The article discusses Donald Trump's recent statements regarding tariffs, suggesting that he may use them as a crucial source of revenue for his proposed policies if re-elected. He hinted at implementing tariffs as high as 2000%, targeting auto imports specifically, and mentioned across-the-board tariffs to compel companies to relocate manufacturing to the U.S. Trump's tariff plans could potentially fund his proposals, which are estimated to cost over $10 trillion, with tariffs expected to raise approximately $2.7 trillion. However, economists warn that such tariffs could lead to increased consumer prices, negatively impact GDP growth, and even cause potential recessions. Experts emphasize that the implementation of these tariffs might occur without congressional approval, leveraging specific legal frameworks available to him.