The U.S. unemployment rate and inflation rate were steadily decreasing throughout 2024. But the inflation rate was also at a painful high throughout 2022. It seems conservatives were quick to point to Biden’s Administration and Democrat policies as hurting our economy.
But with tariffs, conservatives seems more accepting that the economy will hurt for a while but the economy will be healthier.
What indicates a healthy economy and at what point do you think we’ll get accurate results (for better or worse) from tariffs?
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We probably won’t see any impact from the tariffs until the end of the second qtr and even then the impact will be negligible. Our total imports are $3.7 Trillion in a $29 Trillion economy. Even if all the tariffs increase by 100% it probably would barely be noticed in GDP numbers.
We’re already seeing the early signs of how tariffs will affect the economy. The stock market is tanking and companies are laying off workers. It’s going to be a rough ride.