The article discusses the declining economic conditions under Trump's presidency, highlighting the recent strong performance of the economy in 2024, characterized by job growth and low unemployment. However, the author warns that Trump's tariffs present a significant threat to the real economy, undermining long-term planning and leading to potential corruption. Unlike Biden's strategic tariff implementation to foster industries like semiconductors and clean energy, Trump's inconsistent tariffs could result in higher prices for consumers, ultimately harming real wages and economic growth.
Tariffs that change by the day cannot provide the basis for long-term planning. What they do provide is a great basis for kickbacks and corruption, which is what we are seeing now.
The most immediate threat is Trump's tariffs... they had nothing to do with the actual tariffs that other countries had imposed on our exports but were based on his misguided belief that trade imbalances are evidence of wrongdoing by our trading partners.
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