https:\/\/reason.com\/2024\/12\/23\/trumps-tariffs-will-shrink-the-economy-and-reduce-investment-cbo-says<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"“An increase in tariffs of 10 percent on all imports would reduce America’s gross domestic product (GDP) by about 0.3 percent, while 60 percent tariffs on all imports from China would knock GDP down by another 0.3 percent, the CBO projects.
\nMeanwhile, the tariffs would “make consumer goods and capital goods more expensive, thereby reducing the purchasing power of U.S. consumers and businesses,” the CBO found. The productivity of American businesses would decline due to “limiting competition from imports and causing resources to be used less efficiently than they otherwise would have been used.”<\/p>\n
The higher tariffs would lower the budget deficit by about $2.7 trillion over the next 10 years, the CBO also estimated. In other words, American consumers would be paying $2.7 trillion more in federal taxes over the next 10 years if Trump’s tariff plans are implemented”<\/p>\n
https:\/\/reason.com\/2024\/12\/23\/trumps-tariffs-will-shrink-the-economy-and-reduce-investment-cbo-says\/<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[367,221,1349,217,165,272,355,314,208,226,170],"class_list":["post-16293","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-cbo","tag-donald-trump","tag-economic-growth","tag-economics","tag-economy","tag-foreign-affairs","tag-foreign-policy","tag-international-relations","tag-tariffs","tag-trade","tag-trump"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/16293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16293"}],"version-history":[{"count":2,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/16293\/revisions"}],"predecessor-version":[{"id":16295,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/16293\/revisions\/16295"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}