Billionaire hedge fund manager and Trump fundraiser John Paulson said that former President Trump's economic plan would help lower inflation in part by curbing excess spending.
Billionaire hedge fund founder John Paulson, a major fundraiser for former President Trump, said Wednesday that Trump's economic plan would help bring down inflation. Paulson told FOX Business Network's Maria Bartiromo during an appearance on "Mornings with Maria" and criticized Democrats' Inflation Reduction Act as worsening inflationary pressures in the economy.
Tariffs, which are taxes on imports, are the primary source of new tax revenue in former President Trump's economic plans. Trump has said the baseline tariff would be set at 10% on some occasions, though he has also suggested at other times that it would be 20%. He has also suggested that tariffs are a negotiating tool to secure more favorable trade terms for U.S. exports, leaving it unclear what level of tariffs would be implemented and whether they would remain in place over the long-term.
estimating the deficit reduction impact of the more aggressive tariff proposals at $2 trillion.
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