The Washington Post on Nostr: GOP downplays Trump’s increasingly extreme threats to global trade ========== ...
GOP downplays Trump’s increasingly extreme threats to global trade
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Donald Trump proposed a U.S. sovereign wealth fund funded by tariffs during a speech at the Economic Club of New York on September 5, 2024; Trump has called for tariffs on all $3 trillion in U.S. imports, claiming they can solve various economic issues; Republican lawmakers downplay Trump's extreme trade proposals, viewing them as negotiation tactics; Trump imposed tariffs on $380 billion in imports during his first term, primarily targeting China; GOP senators, including Mitch McConnell and Ron Johnson, have expressed disapproval of Trump's aggressive tariff plans; Trump's proposals could lead to a median household income drop of over $2,600 according to the Peterson Institute for International Economics; Trump has suggested a 10-20% automatic tariff on all trading partners; The Committee for a Responsible Federal Budget estimates a 10% tariff could raise $2.5 trillion in revenue; Trump's rhetoric has intensified since leaving office, raising fears of a global trade war; GOP lawmakers are divided, with some viewing Trump's tariffs as a warning to foreign nations.
#Trump #Tariffs #Gop #Trade #Economy #2024Election #Politics #GlobalTrade #Republicans #EconomicPolicy
https://www.washingtonpost.com/business/2024/09/20/trump-tariff-trade-gop/
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Donald Trump proposed a U.S. sovereign wealth fund funded by tariffs during a speech at the Economic Club of New York on September 5, 2024; Trump has called for tariffs on all $3 trillion in U.S. imports, claiming they can solve various economic issues; Republican lawmakers downplay Trump's extreme trade proposals, viewing them as negotiation tactics; Trump imposed tariffs on $380 billion in imports during his first term, primarily targeting China; GOP senators, including Mitch McConnell and Ron Johnson, have expressed disapproval of Trump's aggressive tariff plans; Trump's proposals could lead to a median household income drop of over $2,600 according to the Peterson Institute for International Economics; Trump has suggested a 10-20% automatic tariff on all trading partners; The Committee for a Responsible Federal Budget estimates a 10% tariff could raise $2.5 trillion in revenue; Trump's rhetoric has intensified since leaving office, raising fears of a global trade war; GOP lawmakers are divided, with some viewing Trump's tariffs as a warning to foreign nations.
#Trump #Tariffs #Gop #Trade #Economy #2024Election #Politics #GlobalTrade #Republicans #EconomicPolicy
https://www.washingtonpost.com/business/2024/09/20/trump-tariff-trade-gop/