Markets expect his policy package to harm trade and growth but reduce business taxes

Summary

Financial markets reacted quickly to Donald Trump’s return to the presidency, with higher share prices, a stronger dollar, and expectations of slower interest rate cuts.

Trump has outlined plans to cut taxes, impose high tariffs, restrict migration, and reduce regulations. Economists warn that his economic policies could hinder growth and drive up consumer prices, while benefiting corporate profits.

Trump’s tariffs, especially a 60% levy on Chinese imports, are expected to strain the eurozone.

Inflationary pressures from his policies may also challenge the Federal Reserve’s efforts to lower interest rates.

  • NegativeLookBehind@lemmy.worldEnglish
    144·
    2 months ago

    America: “Inflation under Biden is awful”

    Trump: “Elect me and I’ll make it worse”

    America: “Yup, that’s our guy”

      • joekar1990@lemmy.worldEnglish
        401·
        2 months ago

        “How could Joe Biden do this to us!” Person exclaims after GOP controls the house, Senate and executive branch.

      • Queen HawlSera@lemm.eeEnglish
        6·
        2 months ago

        Not even a joke, remember Covid-19 and how people pointed to the empty grocery stores and said “This thing literally happening under Trump is a preview of what Biden will do!”

    • Makeitstop@lemmy.worldEnglish
      22·
      2 months ago

      Trump and the Republicans are about to make things worse for the vast majority of Americans. How much they actually accomplish will probably be at least somewhat limited by infighting and incompetence, But if they fulfill even a fraction of what the campaign promised (to say nothing of the project 2025 roadmap) there will be a lot more things for the people to be upset about.

      • NegativeLookBehind@lemmy.worldEnglish
        12·
        2 months ago

        If they also win the House, how will they blame the democrats for their problems when they have total control?

        Sort of a rhetorical question.

  • HonorableScythe@lemm.ee
    60·
    2 months ago

    I’m scared for the economic future. My job is with a company that needs supplies from China to make our products. Our buyers also source most of their raw materials overseas. Trump’s tariffs will destroy us. We won’t be able to source materials and neither will our buyers. I may lose my job.

    Beyond that, I have family members only a couple of years from retirement. This is going to tank their accounts. I need a new car. How will I be able to afford one? Everything is going to go up in cost.

    • Soulg@sh.itjust.works
      36·
      2 months ago

      I’m scared for the economic future because I’m already poor. Making me turbo poor isn’t going to help lol

    • Thebeardedsinglemalt@lemmy.world
      26·
      2 months ago

      I work at a not for profit hospital. We’re about to get gutted with cuts to medicare, Medicaid, social security and every other tiny line

    • catloaf@lemm.eeEnglish
      9·
      2 months ago

      There are no good answers for your questions. It’s going to be painful.

  • P_P@lemm.eeEnglish
    29·
    2 months ago

    Nobody ever lost money betting against the intelligence of the American people.

  • Wilzax@lemmy.world
    15·
    2 months ago

    The decising factor in most elections is how expensive things feel. Now, the president can’t do a whole lot to make things cost less. But they have a hell of a lot of power to make things cost more. So the BEST we can hope for is a president who slows down how fast things are getting more expensive. But when we’re spending, we don’t feel the current inflation rate, we feel the cumulative effect of inflation for the past few years.