While in office, Trump started a trade war with China, imposing high tariffs on most Chinese goods. Peterson’s analysis concluded that inflation, which would otherwise register 1.9% in 2026, would instead jump to between 6% and 9.3% if Trump’s economic proposals were adopted. While in office, Trump started a trade war with China, imposing high tariffs on most Chinese goods. “The Trump tariffs in 2018-19 didn’t have as large an impact as the tariffs were only just over $300 billion in mostly Chinese imports,’’ he said. It attacks high inflation by raising interest rates to restrain borrowing and spending, slow the economy and cool the rate of price increases.

Source: Huffington Post October 16, 2024 12:09 UTC