During his campaign last year, President Trump repeatedly attacked former President Joe Biden to manage the economy and manage the economy InflationThe However, the President is fighting to provide these promises 100 days after his second term in the White House.
Mr. Trump’s signature policies regarding trade, immigration and government expenditure have not only failed to spread economic growth-they are contributing to intense contraction in activity and threatened to re-progress inflation, data shows are seen in data shows. Economists too Warning that the possibility of US recession Getting up
For a few million recruits across the country, for the Trump administration’s hellter-screen approach for imposing tariffs on original trading partners with almost every country on the planet, Been challengingCorporate executives and small business owners CBS has informed the NewsThe
Nancy Vanden Hutten Nancy Vanden Hutten, a US -leading Advisory Agency Oxford Economics, told CBS Moneywatch about the impact on Mr. Trump’s economy, “I can’t think of anything like this.”
He added, “For example, the President implemented many changes in the Reagan tax policy and defense expenses and cuts, and these issues had a big impact,” but the element here is quite different, which was quite incompatible and chaotic. “
Although Mr. Trump’s supporters continue to support loyal base, there is also a broad and growing trust that the administration has focused too much among other voters Tariff And did not concentrate enough to reduce the price CBS News Polling About the first 100 days in the President’s office.
Such anxiety comes as the White House breaks a severe break with the country’s traditional vessels in the country worldwide trade. The results, critics say, includes the highest tariffs for more than a century; Sudden, confusing Shift in customs policy And major losses of geological relations in the United States.
Former Senator Phil village of the Republic of Texas A&M, former Senator Phil Village told CBS Moneywatch, “The tariffs have become a continuous disaster economically.” “There is no doubt that the tariff policies will raise prices because the tariffs are a tax.
The village added, “I want to emphasize that the damage to the tariff is not just inflation – they do this for efficiency and economic growth.”
The Trump administration has stood beside its economic record till today, White House spokesman Kush Dei told CBS Moneywatch in a statement that “President Trump’s first policies are providing the most necessary economic relief to American American long -term recovery.”
“In the second term of President Trump’s office in the second term of the United States, the first menstrual price decreased in the March after year, while the Bangladeshi leaders from Apple to Nvidia, from Apple to Nvidia, have made trilions to the Historic Tihasic investment promises to restore the United States,” Desai. “President Trump provided a Historic Tihasik Economy in his first term and he was returning success in his second term.”
Economic downturn
In the meantime, the US economy is showing signs of slowing down. Business survey in April is advisable that the US is moving towards “a transparent speed” in the United States, according to the Panthion Macro economy, which has called Mr. Trump’s tariff a “existence crisis” for business.
The country’s total domestic product – the total annual value of all products and services produced in the United States – the fourth quarter of last year in the first three months of 2021, is predicted to decline from 2.5%, the fourth quarter of last year will fall from 2.5%. For the year, economic growth is predicted to slow down from 2.8% of 1.9% in 2024, show factoret data.
Economists have warned that the United States could cause a downturn due to Mr. Trump’s tariffs. Before the opening of Mr. Trump on January 20, economists originally gave it The US economy is a good ratingIts strong growth, low unemployment and inflation points to progress to bring under control.
Big and small businesses say that tariffs will hinder, quoting the new US duty barrage on their earning calls in about 30 days. It compares with 100 references in December 2024 according to the transcript posted by the factory. Early this month, the CEO of Walmart and Target Personally warned Mr. Trump The tariffs that can disrupt the supply chains and move to the shelves within a few weeks.
Vanden Hutin of Oxford Economics said, “Most businesses plan to pass these expenses to their customers, which will make things more expensive and as a result we are going to see consumer expenses,” Oxford Economics’s Vanden Hutten says its firm is not predicting the recession even though its GDP is outlined. “It’s low income for business.”
Inflation
Mr. Trump had promised to end “inflation nightmare”, if he promised that if he had promised this Will reduce the price “Very fast” in the second term.
However, 7 days after his new administration, customers are skeptical about Mr Trump’s vow in dealing with inflation, 63% of the new voting has told CBS News that they believe his policies will increase grocery prices. Just 15% said they believe that his administration would help reduce their grocery bills.
Customers are clearly concerned about tariffs, in the same CBS news survey, 55% of respondents have said that Mr. Trump has no clear plan for duty and trade. According to the Consumer Vision Index of Michigan University, Americans are now expecting inflation to increase every year-a potential self-fulfilling outlook that customers can overcome the expenses.
Still inflation data shows that prices rise Easy at 2.4% In March, February decreased from 2.5%. According to the AAA, a regular gas national average of $ 1.666 a year ago is now a relief with the national average of $ 1.517 dollars.
Nevertheless, many economists have predicted that the impact of the tariff will be inflation later this year as the impact of the tariff works through the economy.
Cases in case of duty
Mr. Trump has maintained that his customs policies will benefit the US economy in the long run. In his view, the cost of the United States will encourage both foreign businesses to extend the cost of the United States, creating jobs for American workers, and re -inspire the US production sector.
Since the inauguration of Mr. Trump has said some businesses that they are Invest in domestic productionApple plans to promote $ 500 billion of its US facilities for more than four years and announces an announcement on IBM on Monday $ 150 billion investment “Fuel in the economy”.
The President has maintained further that will bring the tariff Trillion to earn new federal Republican lawmakers currently assumes an extension by attacking its 2017 tax cuts. However many economists suspect that Mr. Trump’s claims can bring his tariffs as much as it can bring as much as customers will probably reduce their expenditure on foreign goods When their prices riseThe
“Customers need to be confident in influence their expenses,” Sen, “George Mason University Economist Donald Boudrax mentioned. The book with Gram, whose book, “Victory of Economic Freedom: Debanking seven great myths of American capitalism” will be published). “The current policy is reducing their confidence.”
On his behalf, Mr. Trump admits that the impact of US tariffs will cause “some pain” for Americans, while in a social media post in February that “it will pay all the price will be worth it.”
Market turmoil
Wall Street’s response to the Economic Policy of the Trump administration has cleared: S&P 500 index has lost 10% since reaching a northern post-post-post-post-post-postal post on February 19th.
Since the inauguration of Mr. Trump, according to the US dollar index, the value of the dollar has dropped by about 9%, which compares the greenback value to a foreign currency basket. Generally, investors rush to the bond market during economic uncertainty, but in recent weeks The price of the bond has fallen behind And the yield has increased – by the impact of the Trump administration policy, investors shake the marks.
“I would emphasize that this movement is really unusual in the resource markets, and this is especially April 2, ‘Liberation Day’,” or after that day Mr. Trump has announced the customs On almost every nation of the world, Boudrax says. “It can only be explained by world investors in fear of what can happen in the US economy.”
He also added, “Soon soon to tell how far these fears go, but the initial symptoms are not pleasant.”
An enthusiasm from tax cut and controllessness?
To be sure, raising concerns among consumers, businesses and investors does not express the inevitable economic downturn on their own. And still up to 50 years of lower and inflation of inflation remained elastic with unemployment with unemployment Down Down From 2.4% in March.
Some economists also see what he sees as positive on Mr Trump’s agenda, such as the possibility of tax cut and control, which can encourage economic growth. And Mr. Trump has supported his administration’s efforts to reduce the federal expense supervised by Elon Mask’s Government Skills Department as a victory for the taxpayers.
Mr Trump told Time Magazine in an interview this month, “We have received several hundred billion dollars of waste, fraud and abuse.”
In Dog, on his account, spent about $ 160 billion, or about 2.4% of the federal government’s annual expenditure is about $ 6.8 trillion. However some critics have noted that the cuts will be Taxpayers spent in the end Those who were mistakenly dismissed because of the rehabilitation of federal workers, the remaining workers are less productivity and less taxes from the IRS, which is reducing its staff at the direction of the day.
In the meantime, some observers have said that Mr. Trump’s biggest obstacle to the economic goals of Mr. Trump is his own creation.
“We want Trump to succeed – in criticizing this trading policy, this is the principles we are criticizing,” Sen said village. “I don’t believe that the President may achieve what he wants to achieve for America if his trade policy is not changed.”
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