Trump likely wouldn't need Congress to OK this trade policy

Published On Sep 12, 2024, 7:05 PM

The article discusses former President Donald Trump's potential trade policy, including his intention to impose 100% tariffs on countries that move away from using the US dollar. Experts criticize this aggressive stance, suggesting it would ultimately harm American consumers by raising prices, potentially leading to inflation and risking a recession. While Trump could unilaterally implement such tariffs without Congressional approval, economists warn that this could provoke a negative reaction from global markets similar to the financial turmoil caused by policies in the UK under former Prime Minister Liz Truss. Trump's approach has sparked concern among business leaders about preparing for such drastic changes in trade policy.

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Stock Forecasts

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Negative

Trump's proposals could lead to significant upheaval in trade, potentially increasing inflation and harming economic growth, especially if implemented. The aggressive nature of his tariffs may also lead to retaliation from other countries, further complicating the international trade landscape and impacting American exporters.

XLIView XLI chart on TradingView

Negative

A potential implementation of Trump's tariff strategy could destabilize the stock market as investors react negatively to increased uncertainty and potential recession risks. This might lead to a sell-off in the stock markets, particularly affecting sectors reliant on imports and international trade.

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