President-elect Donald J. Trump is initiating an unprecedented economic agenda of tax cuts and tariff increases at a time of high interest rates and elevated prices, signaling a stark shift from his previous term.
Trump's administration aims to enact universal tariffs and accelerate domestic energy production while ending policies supporting electric vehicles, reflecting a unilateral approach to addressing inflation and economic challenges.
Despite promises, many economists express skepticism about the effectiveness of Trump's proposed policies, anticipating a potentially stagflationary impact on the economy.
The current economic context is notably different from Trump's first term, with inflation rates higher than when he initially took office, and significant national debt posing additional challenges.
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