Welcome to Extreme Investor Network, your go-to source for all things related to the stock market, trading, and Wall Street. Today, we are diving into the impact of the US Presidential election on tariffs and the potential for outside interference.
The Tax Foundation recently released calculations based on US Customs and Border Protection – Trade Statistics, shedding light on the Biden administration’s decision to retain Trump-era tariffs while adding more tariffs on specific goods. These tariffs don’t just impact China but also have repercussions on the US economy. The Tax Foundation estimates a potential decline of at least 0.8 percent in the US GDP and a decrease of 684,000 full-time equivalent jobs if Trump wins and implements promised tariffs. The ongoing trade tensions continue to pose economic challenges that cannot be ignored.
As the US Presidential election draws near, concerns about potential interference have escalated. US intelligence has raised alarms about China, Iran, and Russia attempting to influence the election outcome for their benefit. In a recent declassified assessment from the National Intelligence Council, it was stated that Russia and China might resort to tactics that could incite or contribute to violence, especially in the post-Election Day period. Despite denials from leaders in China, Iran, and Russia, the threat of outside interference remains a looming issue.
In considering who China might prefer in the election, a Trump administration would bring about the threat of escalating tariffs on Chinese goods, further straining US-China relations. The possibility of punitive tariffs could not only impact China’s economy but also affect US consumers. On the other hand, a Harris administration would likely prioritize improving US-China relations, although existing tariffs would likely remain in place, impacting the US economy in different ways.
As the election approaches, the stock market and investors will be closely monitoring these developments and their potential implications on the financial landscape. Stay tuned to Extreme Investor Network for expert insights and analysis on all things related to the stock market and the ever-evolving world of trading.