Trump's claims of trade victory contrast sharply with economic realities, including rising inflation and slowing job growth. His tariffs have resulted in increased consumer prices, costing the average household an estimated $2,400 by 2025. Economists warn that the combination of these tariffs and their economic consequences could lead to stagflation, reminiscent of the difficult economic conditions of the 1970s. Critics argue that Trump's policies may ultimately harm millions of Americans rather than bolster the economy as claimed.
Trump's trade war and tariff machinations have pushed up inflation, slashed US job gains, slowed economic growth, and caused the manufacturing sector to sputter.
Job growth plunged by over 70% in the three months after Trump unveiled his tariffs that filled corporate executives with uncertainty and dread.
The Yale Budget Lab estimates that the price increases caused by Trump's tariffs will cost the typical US household $2,400 in 2025.
Some economists are warning that Trump's tariffs will bring back stagflation, a dangerous combination of rising prices and slowing growth last seen in the 1970s.
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