During the 2016 election season, many analysts and prognosticators (including me) predicted the economy would ta
Developments over the next several months will provide some important clues. During his first year in office, Trump presided over a strengthening economy and booming stock market, due in part to the sharp cuts in business taxes Trump promised—then delivered. Employers added 2.1 million jobs during Trump’s first 12 months in office. The S&P 500 stock index rose 25%.
But stocks are now wobbling, and economists are warning of new dangers to the economy—thanks largely to Trump. Among the campaign promises Trump has yet to fulfill are new tariffs on imported goods, which, to Trump’s mind, are necessary to revive the U.S. manufacturing sector. So Trump now to plans to impose tariffs of 25% on all imported steel and 10% on all imported aluminum.
Source : Yahoo
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