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Economics-III-J-I

04 Jan

Many people are turning against President Trump because of the problems with inflation but fail to realize how complex the economy is. You can’t fix it with a simple change of policy. President Biden set Trump up with massive expenditures after he lost the election which fueled even more inflation which kicked in as President Trump took office. While Trumps tariffs did cause some increase in prices, they were necessary to force other countries to remove their tariffs. The US has allowed foreign goods in free while other countries have tariffs to protect their industry preventing them from buying American goods which destroyed American manufacturing and has created a massive trade deficit for years. We have been spoiled on cheap foreign goods but they have come at the expense of American jobs. American’s demand for higher wages have made it  difficult to compete with cheaper foreign goods. It will take a while to rebuild America’s manufacturing. Some companies are hesitant to expand because they will face a return to higher taxes, renewed inflation, and more government regulations, if liberals return to power in 2028.

 

 

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