Trump's Economic Vision: Growth Despite Debt?

Donald Trump, the former US President and current Republican presidential candidate, recently reaffirmed his economic policy plans, which he claims will stimulate growth, although they could increase national debt. During a panel discussion at the Economic Club of Chicago, he advocated for the return of companies to the US and defended his proposals for drastic tariff increases. According to Trump, these tariffs are intended to protect domestic businesses and encourage the establishment of new factories in the US. The tariffs Trump is considering, particularly against China, could affect trade, but he anticipates a positive impact on the job market from the establishment of new industrial enterprises. Despite polls predicting close electoral races, dissatisfaction with the current economic situation under President Joe Biden serves as a tailwind for Trump's campaign. In terms of tax policy, Trump plans to lower the corporate tax rate from 21% to 15% and introduce further tax incentives to promote domestic production. However, these promises are also met with criticism: the funding of such measures remains controversial, and experts warn of negative impacts on the budget deficit and inflation. Trump's accusations towards the US Federal Reserve, especially its Chairman Jerome Powell, were also prominent. He left it open whether he would replace Powell if he wins the election. With respect to IT giants like Google, Trump showed willingness to engage in discussions, although he harshly criticized their role in the online market. Trump's immigration policy remains restrictive, causing concern among some business leaders that it could affect the labor market. His push to continue the wall on the southwestern border and his rhetoric face resistance in some quarters. Overall, Trump's economic policy plans sound ambitious, but the associated challenges and controversies persist. As the campaign intensifies, many view economic issues as a decisive factor for the vote in November.