• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Wall Street Is Panicking That Trump’s Policies Could Make The Economy Work For Average Americans
Business

Wall Street Is Panicking That Trump’s Policies Could Make The Economy Work For Average Americans

July 5, 2024No Comments5 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Donald Trump And Joe Biden Participate In First Presidential Debate
Share
Facebook Twitter LinkedIn Pinterest Email

Wall Street is panicking that former President Donald Trump’s populist economic policies will hurt growth in a second term, but experts told the Daily Caller News Foundation that it’s average Americans who stand to benefit.

Wall Street traders are increasingly betting that Trump will win the presidency following President Joe Biden’s dismal debate performance at the end of June and are worried that the former president’s immigration and trade policies will hurt topline economic growth, according to Politico. While Trump’s economic policies might harm the results of headline economic reports, they channel benefits to average American workers who are dealing with the effects of a massive surge of illegal immigration and unfavorable trade policies, according to experts who spoke to the DCNF. (RELATED: The Massive Populist Wave Taking Over America Can Be Explained With One Stat)

Trump has campaigned and governed on key populist policies that prioritize trade protectionism and American manufacturing. This goes hand in hand with Trump’s immigration policy plans for his potential next term, as he pledged to implement the largest domestic mass deportation during an Iowa campaign speech in December.

CHESAPEAKE, VIRGINIA – JUNE 28: Republican presidential candidate, former U.S. President Donald Trump speaks during a rally at Greenbrier Farms on June 28, 2024 in Chesapeake, Virginia. Last night Trump and U.S. President Joe Biden took part in the first presidential debate of the 2024 campaign. (Photo by Anna Moneymaker/Getty Images)

“What the Biden administration has done is they have just essentially stopped enforcing border laws, and they parole these illegal immigrants into our country,” Michael Faulkender, chief economist at the America First Policy Institute, told the DCNF. “They give them work visas. And this is why people on the left are saying that Trump’s policies would cause inflation. It’s because if we deport all of those workers, then somehow we wouldn’t have enough workers to do all the work that’s currently being done.”

See also  Jerome Powell Says An Economic ‘Soft Landing’ Is Not The Fed’s ‘Baseline Expectation’

In the last year, the number of employed foreign-born workers rose by over 600,000 to nearly 31 million, while the number of employed native-born Americans dropped by nearly 300,000. The disparity indicates that benefits under Biden are going to foreign-born workers rather than native-born Americans.

“The average American is no longer going to have to compete against the incredibly low-wage labor that is driving down the standard of living,” E.J. Antoni, a public finance economist and Richard F. Aster fellow at the Heritage Foundation, told the DCNF about the effect of Trump’s immigration policy in a second term. “In other words, you will increasingly see businesses pay living wages to their employees.”

“This was actually a key reason why a lot of blue-collar jobs saw such rapid wage growth during the first Trump term,” Antoni told the DCNF. “It was because they really helped stem the tide of illegal immigration that existed before Trump. As less of that illegal labor came across the border, it helped buoy the labor market, at least for Americans.” (RELATED: Biden Says He Wants To Cut Down On Illegal Immigration — But ‘Bidenomics’ Depends On It)

A key feature of Trump’s economic policy in his first term that remains a part of his planned agenda for a second is trade protectionism, which involves setting tariffs on imports, particularly from foreign competitors like China, and promoting American manufacturing.

“Take a look at the significant application of tariffs that President Trump did during his first term,” Faulkender told the DCNF. “We had sub 2% inflation during his entire presidency. So if applying tariffs at the scale President Trump has talked about were to be as inflationary as the Democrats or demagoguing people into believing, where was the inflation during President Trump’s presidency?”

See also  Trump's 'Always Guilty' But I Don't Want to Be a Country Where We Go After Every Ex-POTUS and This Is Similar to Edwards

Peter Earle, senior economist at the American Institute for Economic Research, disagrees with the effectiveness of tariffs, arguing that these trade policies ultimately burden American business owners and consumers by raising costs through inflation.

“Because disinflation is underway, for now, it seems less likely that the concern is higher rates of inflation in coming years owing to monetary policy,” Earle told the DCNF. “It’s more likely that worries about Trump’s promised tariffs are causing higher yields on longer-term bonds. Tariffs increase the costs of imported goods, and if they are put on a wide variety of goods can give rise in the overall price level of goods and services.”

“To be sure, his recent call for 60% tariffs would be devastating to world trade, even beyond the U.S. and China. When costs to businesses rise, such as those for inputs which are imported, consumer prices will rise,” Earle told the DCNF.

Other economists, like Faulkender, say that Trump’s economic and trade policies actually benefit Americans across the board.

“The Trump era was very good for average Americans, for working-class Americans, and it was good for investors,” Faulkender told the DCNF. “If you look at the stock market’s performance during the Trump administration, it did exceptionally well. I really just dispute this analysis, coming from the left, that suggests that the economy is this zero-sum game and that benefiting workers is bad for investors. With the right set of policies, we can improve outcomes for investors and workers alike. That was the record under President Trump, and that’s what I expect the second term to go back to.”

See also  ‘Can’t Last Forever’: Federal Debt Grew More Than Twice The Economy Last Quarter

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Americans Average Economy panicking Policies Street Trumps Wall Work
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Biden signs debt limit bill, avoiding U.S. default

June 4, 2023

How India Should Respond to Trump’s Tariff Threat

April 10, 2025

The 5 Stages of a Quarter-Life Crisis & What You Can Do

December 26, 2024

‘So Help Me Todd’ Star Marcia Gay Harden Boasts ‘My Children Are All Queer’ During Drag Queen Fundraiser

May 13, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Annette Bening Says Her Trans Child Is ‘Such an Inspiration,’ Wishes Everyone Had a Trans Family Member

August 21, 2023

Fears of 6% and US debt jam

May 24, 2023

Goldman in talks to offload Apple Card to American Express: Source

June 30, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.