Donald Trump’s actions show a man fighting to lose, not win the election

The post Donald Trump’s actions show a man fighting to lose, not win the election appeared on BitcoinEthereumNews.com. Donald Trump is not acting like a man serious about winning this presidential election. His key proposal (universal tariffs) is wildly unpopular with voters. An NBC News poll revealed that 44% of voters are less likely to back a candidate who supports tariffs of up to 20% on imports. Only 35% said they would be more likely to support such a candidate, and 19% said it wouldn’t matter. This is not a winning strategy. Despite the backlash, Trump is digging in. His logic? Push tariffs so high that companies have no choice but to relocate to the United States. In a recent interview, Trump explained that: “The higher the tariff, the more likely it is that the company will come into the United States and build a factory in the United States, so it doesn’t have to pay the tariff.” He’s floated a 20% tariff on all imports and a 60% tariff on Chinese goods, betting that this will force job creation and make America rich again.  Trump’s faces ejection from all sides The problem? Economists, voters, and even some members of his own party are calling the idea reckless. Experts warn that tariffs hurt American businesses first. Importers will pay the tariff, and those costs will get passed on to consumers. More expensive goods mean higher inflation — just as inflation in the U.S. had started to ease. With inflation at around 5.5% year-on-year in October 2024, some economists fear that tariffs could push inflation beyond 7%. Republican Senate Minority Leader Mitch McConnell said in September, “I’m not a fan of tariffs. They raise prices for American consumers.” Kamala Harris, Trump’s Democratic opponent, jumped on the issue, calling his tariff proposal the “Trump sales tax.” The Biden administration has kept some Trump-era tariffs but claims its approach is more…

Oct 20, 2024 - 23:00
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Donald Trump’s actions show a man fighting to lose, not win the election

The post Donald Trump’s actions show a man fighting to lose, not win the election appeared on BitcoinEthereumNews.com.

Donald Trump is not acting like a man serious about winning this presidential election. His key proposal (universal tariffs) is wildly unpopular with voters. An NBC News poll revealed that 44% of voters are less likely to back a candidate who supports tariffs of up to 20% on imports. Only 35% said they would be more likely to support such a candidate, and 19% said it wouldn’t matter. This is not a winning strategy. Despite the backlash, Trump is digging in. His logic? Push tariffs so high that companies have no choice but to relocate to the United States. In a recent interview, Trump explained that: “The higher the tariff, the more likely it is that the company will come into the United States and build a factory in the United States, so it doesn’t have to pay the tariff.” He’s floated a 20% tariff on all imports and a 60% tariff on Chinese goods, betting that this will force job creation and make America rich again.  Trump’s faces ejection from all sides The problem? Economists, voters, and even some members of his own party are calling the idea reckless. Experts warn that tariffs hurt American businesses first. Importers will pay the tariff, and those costs will get passed on to consumers. More expensive goods mean higher inflation — just as inflation in the U.S. had started to ease. With inflation at around 5.5% year-on-year in October 2024, some economists fear that tariffs could push inflation beyond 7%. Republican Senate Minority Leader Mitch McConnell said in September, “I’m not a fan of tariffs. They raise prices for American consumers.” Kamala Harris, Trump’s Democratic opponent, jumped on the issue, calling his tariff proposal the “Trump sales tax.” The Biden administration has kept some Trump-era tariffs but claims its approach is more…

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