Part 4/5:
Another option to boost economic growth is to loosen regulations that impact industries like oil production, airlines, banking, and tech. The deregulatory process is seen as a potential area of influence for the Trump administration. However, the extent to which Trump alone can shape the economy is often overstated, as it is subject to many foreign influences.
Trump has also called for tariffs of 10 to 20% on imports, with higher tariffs on Chinese goods. The goal is to generate revenue and bring industrial jobs back to the US. However, this could lead to higher prices for consumers, particularly impacting lower-income households, and make it harder to produce industrial products in the US.