Republican presidential candidate Donald Trump has defended his protectionist trade policies and dismissed concerns about possible rising national debt. “We are committed to growth. We will bring businesses back to our country,” the former president said in an interview at the Economic Club of Chicago on Tuesday. He was confronted with forecasts from budget analysts that… His plans would increase the national debt by $7.5 trillion by 2035 – more than twice as much as Vice President and Democratic candidate Kamala Harris. According to Trump Tariffs revive US production and generate enough revenueto allay concerns about a growing deficit. He not only relies on special taxes on goods from rivals such as China, but also on products from allies such as the European Union. He wants to impose tariffs on imported cars from Germany, among others, so that foreign manufacturers build their cars in the USA. Trump is also of the opinion that he can make recommendations to the US Federal Reserve regarding interest rates without issuing orders. “I think I have the right to say: You should raise or lower interest rates a little bit.”
Some trade experts argue that his actions could hurt the U.S. economy, jeopardize jobs and drive up consumer prices. Trump responded that the tariffs would have a strong impact, but from his perspective a positive one. “You just have to produce in the USA and then there are no tariffs.”
