Economic concerns were a driving factor for voters in this election, leading to Donald Trump’s return to the White House and Republican gains in Congress. Frustrated by high prices despite an otherwise stable economy, Americans demanded change when they voted for president. They could get it.
President-elect Trump has promised to dismantle many of the Biden administration’s policies, pledging substantial tariffs on imports, tax cuts for individuals and businesses, and a crackdown on undocumented immigrants working in the US Millions of voters backed Trump, hoping he can bring back the economic stability and lower prices they remember from his first term, before the COVID-19 recession. Although inflation has significantly dropped recently, many remain dissatisfied with persistent price levels.
Trump’s economic agenda will likely have immediate effects on trade, tax policy, and immigration, shaping the direction of the US economy under his leadership.
“His track record proved to be, on balance, positive, and people look back now and think: ‘Oh, OK. Let’s try that again,’ ” said Douglas Holtz-Eakin, a former White House economic adviser, director of the Congressional Budget Office and now president of the conservative American Action Forum think tank.
Since Election Day, the Dow Jones Industrial Average has skyrocketed more than 1,700 points, largely on expectations that tax cuts and a broad loosening of regulations will accelerate economic growth and swell…
