Former President Donald Trump is planning to introduce stronger protectionist trade tariffs, make deeper tax cuts, and reverse Joe Biden’s regulation policies if he is re-elected to the White House in January 2025, according to a recent Bloomberg report.
The 45th President has suggested retaliatory measures on countries such as India or Brazil if they decide to impose higher tariffs on American exports, a policy which he terms “reciprocity.” He also supports the idea of a “universal baseline tariff” – what he nicknames a “ring around the U.S. economy” – which would see an automatic ten percent tariff placed on imported goods, a move that is “freaking out” European Union diplomats.
Trump has been discussing the expansion of his successful first-term economic policies with a number of campaign aides in recent weeks, as well as former White House National Economic Council director Larry Ludlow and Heritage Foundation fellow Stephen Moore.
Moore has since argued that Trump should adopt a similar line of argument in the next election to that of Ronald Reagan against Jimmy Carter by asking the American people, “are you better off today than you were four years ago?”
“As a businessman, he understands that we are the biggest customer. Therefore, we have the most leverage if we are willing to use it,” stated former House Speaker Newt Gingrich, a Trump ally.
