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Trump promises another trade war if he wins, but it would be different this time

via Trump White House Archived on Youtube
This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

Donald Trump is proposing a revival of trade wars if re-elected in 2025, aiming for “universal baseline tariffs” of at least 10% on most foreign products.

Experts are divided on the potential impact, with concerns about economic dislocations, inflation, and global retaliation.

Trump’s approach contrasts with Biden’s, as he emphasizes punishment over inducements. (Trending: Fox News Star Accused Of Major Scandal)

The plan also includes decoupling with China and potentially seizing new powers.

Richard Baldwin of the IMD Business School, said, “This 10% tariff across the board is really much more of an anti-trade kind of thing.”

“He just doesn’t like trade,” Baldwin added.

“We will impose stiff penalties on China and all other nations as they abuse us,” said Trump.

Trump announced plan to “phase out all Chinese imports of essential goods — everything from electronics to steel to pharmaceuticals.”

William Alan Reinsch of the Center for Strategic and International Studies, said, “It would be a disaster economically, and it would be much worse than his previous four years.”

“If it begins to look like in September and October that he might win, and he continues to say this is what he’s going to do … I think you’re going to see a pre-election effect,” added Reinsch.

“Putting tariffs on steel actually distorts a particular market,” said the economist.

“That’s why I’m not as worried about the 10% as I was with this strategically incoherent, tactically incompetent [approach] that he was doing before,” explained Reinsch.

Claude Barfield, a former consultant to the US Trade Representative in the Reagan administration, said, “They have a point in the sense that [tariffs often only have] a small but measurable impact on inflation.”

Adding, Trump is selling a “myth [that] this is money that comes to the US government, and we’re not hurt; that’s clearly not true.”

While some argue that the long-term effects would be beneficial, others fear disruptions for consumers and manufacturers.

The prospect of Trump’s return adds uncertainty and potential volatility to the global economy.

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