Monarch Discusses the Effects of Trump’s Presidential Economic Agenda in GOBankingRates Article

July 18, 2024

GOBankingRates

Ryan Monarch

Economics Department

Trade, Development, and Political Economy Working Group

Economic Policy

Federal

Income

Labor

Ryan Monarch

With the presidential elections just a few months away, Americans are taking a deep dive into what the candidates have to offer for their future financial well-being. This year’s candidates face serious pressure as Americans struggle to stay financially afloat after a season of steep inflation.

Trump’s proposal includes a tariff of 10% on most imports and a 60% tariff on Chinese import. His agenda also consists of a planned clampdown on immigration, which could impact the nation’s inflation rates and individuals’ financial security.

“These policies include mass deportation of undocumented immigrants and greatly reduced entry visas for working immigrants,” says Ryan Monarch, assistant professor of economics. “These policies would also lead to higher prices for everything from housing to groceries, as reduced labor supply in construction, agriculture and other sectors would lead to higher costs throughout the economy.”

Read more in the GOBankingRates article, “Americans Are Feeling Worse About Their Finances: Would a Trump Win Turn It Around?”