Analyst: Trump's tariff plan has fundamental contradictions

ChainCatcher news, market analyst Allison Morrow stated that for Trump, who promised to lower consumer prices on the first day of his campaign, his first major economic initiative is a set of policies that are almost guaranteed to have the opposite effect. Tariffs will raise prices, suppress economic growth, and make it more likely for the U.S. to fall into recession. Critics of tariffs are concerned about the fundamental contradiction in Trump's plan, as he believes tariffs are a panacea for the economy that can restore America's manufacturing strength, rebalance trade, and bring in substantial funds to help the U.S. pay off its deficit and alleviate the tax burden on Americans. While tariffs can achieve some of these goals, it is impossible to accomplish all of them simultaneously.