Trump’s Newest Economic Sherpas Are Not Like His Old Ones

Published On Nov 6, 2024, 4:12 PM

President-elect Donald Trump has shifted his economic advisory team to include less conventional and more aggressive financial advisors, some with ties to Silicon Valley. Notable figures include Howard Lutnick and others advocating for hardline policies, such as tariffs on imports, diverging from the more traditional economic approaches of his previous term. This change signals that the effects of Trump's economic policies on markets and international relations may not be predictable, as the new advisors lean towards populist economic strategies.

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The new advisory direction under President-elect Trump, focusing on tariffs and nationalist economic policies, could have mixed effects on the markets. Tariffs could potentially raise costs for consumers and businesses linked to imports, which may negatively impact companies reliant on global supply chains. However, sectors like domestic manufacturing could benefit from reduced competition from imports.

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