During a Fox News interview, host Maria Bartiromo questioned former President Donald Trump about his economic plans, which some economists say could raise the national debt and consumer prices.
Trump, the GOP presidential nominee, suggested significant tariffs as part of his strategy, including a 10% tariff on all imports and a 60% tariff on Chinese goods. These tariffs could yield about $3.7 trillion in revenue over ten years but might also affect consumer prices and international trade.
Economists estimate that Trump’s plans could add $7.5 trillion to the debt, with potential increases ranging from $1.45 trillion to $15.15 trillion.
In comparison, Vice President Kamala Harris’s policies might increase the national debt by $3.5 trillion by 2035, with possible fluctuations depending on various scenarios.
The U.S. national debt has surpassed $35 trillion as of August 2024, equating to around $100,000 per person. Economic concerns are paramount for voters ahead of the upcoming election.
Questioned about the impact of his tariffs on consumer prices, Trump claimed that his plan would protect U.S. car companies, arguing against higher prices, although Bartiromo countered that costs would likely be passed on.
Bradley P. Moss, a national security lawyer, criticized Trump’s response and highlighted economic reports warning against the potentially harmful effects of tariffs on both the U.S. and Canadian economies.
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