Trump’s tariffs: Short-term damage or long-term ruin?
Trump’s tariffs: Short-term damage or long-term ruin?
What does Trump aim to achieve by making it costlier for the rest of the world to sell their goods in the US?
As the US government imposed tariffs on goods from all other countries, President Donald Trump has asked Americans to “hang tough”.
But economists are warning of negative consequences for American households and businesses.
Georgetown University professor Michael Strain, who heads economic policy studies at the American Enterprise Institute, tells host Steve Clemons that “the risk of recession is very, very real.”
Trump believes that the tariffs will stimulate the US economy and bring jobs back after decades of outsourcing, Strain argues, but the opposite is more likely: costs will rise, manufacturing will decrease, and Trump’s approval rating will go down.