Trump May Put US Into a Recession, Former Adviser Warns
The Trump administration's aggressive tariff policies could potentially put the US economy in recession, warns Anthony Scaramucci, a former Trump insider. Tariffs are a consumption tax that disproportionately affects low-income households, exacerbating income inequality and reducing consumer spending. As such, President Trump's plans to impose higher tariffs on Mexico, Canada, and China may have unintended consequences for the overall economy.
- The Trump administration's actions could set a precedent for future administrations to use tariffs as a tool of economic policy, potentially leading to a more aggressive and protectionist approach to trade.
- How will the long-term effects of these tariffs be mitigated or addressed by policymakers, particularly in terms of supporting vulnerable populations who may be disproportionately impacted?