One thing is for sure it is that tariffs aren’t the solution. In Trump’s first term, the US trade and federal deficits grew despite his tariff measures. Considering Trump’s agenda, the only options are massive spending cuts or tax cuts to bolster the economy. The former is going to be politically impossible and with the latter, it will have to lead to some insanely unbelievable levels of growth to really bring down the deficit by $1 trillion.
This article was written by Justin Low at www.forexlive.com.
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