Trump's Economic Plans Signal Tax Cuts, Tariffs, and Immigration Crackdowns

President-elect Donald Trump inherits a strong economy but faces challenges in addressing inflation, consumer confidence, and fiscal policy.

President-elect Donald Trump aims to extend his original tax cuts, set to expire in 2025, to prevent fiscal tightening as the national debt approaches 100% of GDP.
Trump plans to impose a 10% universal tariff, with higher rates targeting China, potentially increasing consumer prices by 1% in a one-time inflationary effect.
Mass deportations of undocumented immigrants could disrupt key sectors like agriculture, construction, and food services, with a slight inflationary impact expected.
Economic analysts predict that Trump's proposed policies on tariffs and immigration could reduce GDP growth by 0.5% while adding 1% to inflation.
Despite low unemployment and steady growth under the Biden administration, muted consumer confidence and high price levels remain key challenges for the incoming administration.