Trump's comeback plans might change everything about US economy - here's how
Next years possible changes in US trade and immigration could reshape the whole economic landscape. New policies might affect everything from grocery prices to job market‚ making life different for millions
In the coming months Donald Trump might reshape US economic policy with far-reaching effects. His team plans trade-walls that could hit every-ones wallet: a wide-ranging 10-20% tax on imports (and an extra-tough 60% rate for Chinese goods)
The money-game gets more complex when we look at dollar value changes. If these trade-walls go up prices might jump making the Fed raise rates which pulls in foreign cash and pushes the dollar up — its a tricky circle that could make Trumps plans work against themselves
The border-control plans could shake up jobs and wages too. Right now about 8-million non-documented workers (thats like 5% of workers) keep many businesses running. Private companies like GEO Group and CoreCivic are already getting ready for whats coming; their CEOʼs cant hide their excitement about new detention contracts
The Geo Group was built for this unique moment in our history and the opportunities that it will bring
The numbers dont look good for everyday shoppers: experts think these trade-walls could cost each family $1‚500-$2‚000 per year (hitting poor families hardest). Plus removing millions of workers could make prices jump even more in places like:
- Construction sites
- Service jobs
- Manufacturing plants
Its all a big bet on making US workers fill these spots but changing how millions of people work and live isnt simple. Washington state already shows some problems: they just made detention centers pay real minimum wage instead of $1 per day to detainees
