Trump is promising to reduce inflation. His plans may reignite it. - News Summed Up

Trump is promising to reduce inflation. His plans may reignite it.


The Tax Foundation, a conservative think tank that opposes tariffs, found the Trump tariffs — most of which were kept in place by the Biden administration — reduced long-term wages by 0.14 percent and employment by 166,000 jobs. The Trump campaign referred comment to Robert E. Lighthizer, who served as Trump’s trade ambassador. During his first term, Trump’s protectionist impulses were restrained in part by some Republicans in Congress who have since retired. More than 37 percent of meat and poultry workers are foreign-born, according to estimates by the Economic Policy Institute, a left-leaning think tank. Officials have been laser-focused on wrestling inflation down to normal levels, staying steadfast in their pledge to bring down inflation at any cost.


Source: Washington Post January 07, 2024 17:23 UTC



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