Market Overview Analysis by Charles-Henry Monchau covering: General Motors Company, Ford Motor Company. Read Charles-Henry Monchau's latest article on Investing.com
With the American presidential elections just a few weeks away, we take a closer look at the economic and social program of the Republican candidate for the White House.Now 78 years old, Donald Trump launches his third bid for the White House. His economic and social agenda, commonly referred to as “Trumponomics”, is an extension of the policies he introduced during his first term.
According to the Tax Policy Center, Trump’s proposed tax cuts would lower taxes on U.S. households by an average of $550. However, the amount would vary greatly depending on income level. The benefits would largely favour middle and upper-middle-income households. Lower-income individuals, particularly seniors, would see minimal changes since they already don’t pay taxes on their Social Security benefits.
Economists warn that Trump’s tariff policies could provoke retaliation from China, including the possibility of increased tariffs on U.S. goods. Additionally, Trump aims to revoke programs like Temporary Protected Status and Deferred Action for Childhood Arrivals , potentially resulting in the deportation of 1.4 million people currently protected under these humanitarian initiatives. Further tightening the immigration system, he intends to restrict legal immigration by reducing the number of available visas and limiting the entry of foreign workers.
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