Elected President Trump has raised concerns about inflation potentially rising in 2025. This is largely attributed to his plan to impose tariffs on imports, which could drive up prices. Specifically, a 60% tariff on China and a 20% tariff on other countries are being discussed. If implemented, exporting companies may pass these tariffs on to consumers, leading to higher costs and, ultimately, more expensive products. It seems that many voters may not fully understand this connection.
In addition, President-elect Donald Trump has promised to strengthen U.S. borders to prevent immigrants from crossing illegally. He also plans to deport all current illegal residents. This move is likely to weaken the labor market. Since COVID-19, the job market has struggled, particularly in sectors such as the food industry, farming, and manufacturing. Many experts predict that a labor shortage could lead to higher wages over time, further contributing to inflation.
However, there still appears to be much uncertainty ahead. Mr. Trump is a businessman, and his slogan, “Make America Great Again,” brings hope to many who wish to reverse the current situation and improve their lives.
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