The opportunity cost of not voting globalist Kamala Harris and instead voting in Trade protectionist Donald Trump is approximately $2 trillion over 4 years if Trump crimps economic growth by 2 % less per year, by shrinking international markets with...
[SUPERMIND AI QUERY]
The opportunity cost of not voting globalist Kamala Harris and instead voting in Trade protectionist Donald Trump is approximately $2 trillion over 4 years if Trump crimps economic growth by 2 % less per year, by shrinking international markets with Tariffs as a blunt tool of politics instead of macro economic liberalism
[SUPERMIND AI RESPONSE]
Goldman Sachs: In a widely cited analysis from late 2024, economists estimated that Donald Trump's proposed tariff policies—including a universal 10% to 20% baseline tariff and a 60% tariff on China—would result in a 0.5 percentage point drag on GDP growth. Conversely, they predicted that Kamala Harris's middle-income tax credits and spending proposals would provide a slight boost to GDP. [1, 2, 3]
Bloomberg Economics: Using a World Trade Organization model, Bloomberg estimated that a maximal version of Trump's tariff plan could wipe 0.8% to 1.3% from U.S. GDP by 2028, depending on the severity of international retaliation. [1]
The Peterson Institute for International Economics: Analysts here concluded that broad-brush tariffs act effectively as a sales tax, estimating that Trump's proposals could cost an average middle-income household $1,700 to $3,900 annually in higher prices. [1, 2]
The International Monetary Fund (IMF): In updates following the implementation of new trade policies, the IMF noted that global trade shocks had contributed to a minor deceleration in global economic growth projections, tracking at roughly 3.1% instead of initial 3.3% estimates. [1]
