Donald Trump is set to kickstart his second term as the 47th president of the US after scooping the majority vote on Wednesday - but his policies could unleash chaos for the economy
Donald Trump ’s first 100 days in office will send prices soaring and have a potentially devastating impact on trade around the world, an expert has said.
Trump's victory is believed to have come as a result of his unequivocal promise to "end inflation" for struggling Americans, but his second term may do the opposite, and instead send consumer prices soaring for the average American, says Dr Thomas Gift, Director of the Centre on US Politics at UCL. It comes amid growing fears that the economy will be thrown into chaos with Trump's plans to impose sky-high tariffs on all imports into the US.
“But regardless of congress, the first thing Trump will do is push through a number of executive orders and executive actions, including deregulation. The big thing he will do is impose tariffs upwards of 10-20% on all imports into the United States, and upwards of 60% tariffs on imports from China."
When it comes to his immigration policies, Trump can expect to face major obstacles, making a "mass deportation" programme extremely unlikely. This is due to the many operational, legal and political challenges that come with carrying out such plans. Dr Gift says: “Presidents have the first 100 days to get through their legislative agenda, generally, so it really depends on what Trump chooses to prioritise.
"Trump has promised to ramp up energy production within the US, which includes fracking, in states like Pennsylvania for example, which became a major campaign issue. Environmentalists believe it will have degrading effects on the environment and will contribute to climate change. He’ll push through a lot of deregulation for corporations, meaning there will be less stringent requirements on the use of fossil fuels and other non-renewable resources.
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