(MENAFN – Khaama Press)
Fareed Zakaria, a prominent American journalist, warns in The Washington Post that Donald Trump’s economic policies could harm the U.S. economy and drive up inflation, despite Trump’s image as a successful businessman.
Zakaria believes Trump’s economic impact will be worse than any policies proposed by the Democrats, whom he criticizes for being “anti-business.”
While many see Trump as adept at boosting the economy, Zakaria argues his suggestions often yield negative outcomes.
He points out that Trump’s key proposals, like broad tariffs and the deportation of undocumented workers, could hurt economic growth and significantly raise inflation.
Higher costs from tariffs, combined with a reduced workforce, could lead to less production and consumption, ultimately slowing the economy.
Research from the Peterson Institute suggests Trump’s policies could shrink the economy by up to 9.7% by 2028 and inflate prices by 7.4% by 2026.
Another report estimates that tariffs could cost the average American family an extra $2,500 annually, impacting all income levels.
Zakaria concludes that Trump’s economic proposals could be more detrimental than the Democrats’ initiatives, which include increasing corporate taxes and investing in infrastructure to combat issues like child poverty.
He emphasizes that true economic growth relies on market dynamics rather than government intervention, even as both Trump and Vice President Kamala Harris address crucial issues like housing shortages.
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