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Former President Donald Trump’s Plan for a 10% Import Tax to Boost US Treasury and Domestic Producers Raises Concerns

The former American president and hot Republican favorite for the summer of the presidential election, Donald Trump, let it be heard that, if elected to the United States, he would promote the introduction of a uniform 10 percent tax on imports with the aim of supporting the income of the state treasury and favoring domestic producers. According to Trump, such a step would involve a large amount of funds and only have a risk, because such large sums are not involved in individual cases.

Treasury Secretary Janett Yellen said at a press conference that such a plan could raise costs for many categories of goods on which the U.S. companies vertical However, she stated that in some cases the tariffs would be adequate.

According to some estimates, such taxed imports would significantly affect many or even many types of assets.

According to the estimates of the Tax Foundation think tank, taxes for US consumers would be effectively increased by approximately USD 300 billion.

According to the American Action Forum, such a step could result in a drop in the US GDP by approx. 0.31% or 62 billion, the consumer situation would worsen and the general “welfare” would decrease by approx. 123.3 billion USD. Analysts of this company estimate that such a tariff has been introduced from America parties would appear in the established retaliatory tariff so of the species partieswhich in the end could significantly affect international trade in the global market, which in the end would have very negative consequences for the US economy.

During his first presidency, Trump imposed foreign tariffs on US imports worth approximately 250 billion USD. According to some estimates, this measure has cost Americans approximately $195 billion in additional costs since 2018. responded by imposing its own tariffs on US goods. All in all, it seems that the era of globalization, which dominated in the last few decades, ended with this pestle.

Vladimr Urbnek

“Vobor” for the past 20 years. After several years of experience in trading with valuables, Vladimr Urbnek has been devoting himself to the reporting of domestic and foreign capital markets for the past 15 years.

He considers the age to be the result of experience and ability compared to the time before the last major crisis in 2008-9.

2024-01-22 17:01:36
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