(MENAFN – Khaama Press)
Fareed Zakaria, a prominent American journalist, argues in The Washington Post that Donald Trump’s economic ideas could harm U.S. growth and lead to higher inflation.
Zakaria believes the economic damage from Trump would exceed the effects of any liberal policies proposed by Democrats.
Despite Trump’s reputation for economic success from his business background, Zakaria points out that many of his proposals, like high tariffs and mass deportations, could actually hurt the economy.
Increasing tariffs could raise prices and reduce the workforce, which would slow economic activity.
Research from the Peterson Institute suggests Trump’s policies could shrink the economy by 2.8% to 9.7% by 2028 and drive inflation up by 4.1% to 7.4% by 2026.
Another study estimated that tariffs could cost American families an extra $2,500 a year for goods and services.
Zakaria concludes that Trump’s economic plans would harm the U.S. much more than Democratic proposals, which focus on investing in the economy.
He notes that Biden’s support programs have already reduced child poverty by 30% within a year, emphasizing the need for infrastructure investment.
While both Trump and Kamala Harris address economic issues like housing shortages, sustainable growth relies on market forces, not just government intervention.
Share on: Facebook, Twitter, WhatsApp, Email, Print, Telegram
`
