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The Economic Consequences of Trump 2.0

The US president-elect's signature policies will do almost nothing positive for less educated Americans or significantly improve the lives of most others. The rich will get richer, the richest will get a lot richer, and everyone else will contend with higher inflation, cuts to public services, and the effects of runaway deregulation.

WASHINGTON, DC – US President-elect Donald Trump’s second administration starts at noon on January 20. Trump’s non-stop election campaign since losing to Joe Biden in 2020 suggests a better organized redo of his first term, with the same focus on tax cuts to boost the economy, higher tariffs to reshape US trade with the world, and deporting as many immigrants as possible to generate more opportunities for American workers. But times have changed, and reality is unlikely to match rhetoric.

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