Trump's Tariff Plan Faces Criticism Over Potential Debt Increase
Economists warn that former President Trump's proposed tariffs could significantly raise national debt and consumer prices.
- Former President Donald Trump has proposed a 200 percent tariff on cars from Mexico to protect U.S. auto industry jobs.
- Economists estimate Trump's economic plans could add $7.5 trillion to the national debt, surpassing projections for Kamala Harris's plans.
- Trump argues that his tariff strategy will bring manufacturing jobs back to the U.S. and stimulate economic growth.
- Critics, including the Committee for a Responsible Federal Budget, warn that these tariffs could lead to higher consumer prices.
- A report suggests that Trump's tariffs could negatively impact both U.S. and Canadian economies, potentially reducing incomes.