Expanded tariffs and mass deportations would raise prices, some experts say.
[Ed. Note: “mass deportations would raise prices”… said no previous economist EVER.]
by Max Zahn
ABC News
Voters swept President-elect Donald Trump back into office on what appears to be a swell of discontent over the state of the U.S. economy.
More than two-thirds of voters say the economy is in bad shape, according to the preliminary results of an ABC News exit poll. Forty-five percent of voters say their own financial situation is worse now than it was four years ago, which exceeds the share who held that view in the immediate wake of the Great Recession in 2008, the poll found.
Yet despite their frustrations about the cost of living, voters elected a candidate whose economic policies are widely expected to worsen inflation and hammer household budgets, experts told ABC News.
Trump’s proposals of heightened tariffs and the mass deportation of undocumented immigrants could raise prices for everything from coffee to bananas to smartphones, experts said.