Question

Is it possible that the current actions of using tariffs to influence trade policy by the Trump Administration could bring about a similar economic fate, or is it less likely due to a relatively robust economy at this point in time? Explain

Answer 1

Current action which were taken by Trump to boost the trade in US by keeping tariffs will bring the same fate to US economy because all countries are suffering due to US trade policy decisions which are taken by Trump.

Like Trump if other country people also keeping tariffs on US imports than exports of US decrease due to those tariffs which leads to fall in exports of the country. Even because of Trump decision to keep tariffs on imports will not only effect other countries but also US citizens as tariffs should be paid by US importers who are importing goods from other countries and when these importers are paying tariffs they will try to cover that amount on increasing the prices of products which will make the consumer to pay. So however US economy is only facing trouble because of these decisions.