- With the elections approaching, Trump and Biden are outbidding each other to show who is the toughest on trade. Trump has proposed a universal tariff and even higher tariffs on China, while Biden has kept the Trump tariffs of 2018 and added specific tariffs on “strategic” imports from China.
- Since Trump is ahead in the polls and we expect the economic data to deteriorate, we made a Trump victory our baseline in February. A universal tariff would lead to a rebound of inflation in 2025. Recent simulations, which include retaliation by the EU and China, suggest a more prolonged inflationary effect extending into 2026 and an adverse effect on US GDP growth in 2026.
- If the Republicans also get control of the Senate and the House of Representatives, reduced immigration and tax cuts could reinforce the inflationary impact from the universal tariff.
- Meanwhile, it remains to be seen whether the Trump legal cases will lead to a sustained rebound for Biden in the polls. However, they are highlighting that “lawfare” has become a feature of the US elections, which are likely to be contested again. This leads to a further erosion of US institutions and undermines the long-run strength of the economy.
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— Read More: www.zerohedge.com
What Would You Do If Pharmacies Couldn’t Provide You With Crucial Medications or Antibiotics?
The medication supply chain from China and India is more fragile than ever since Covid. The US is not equipped to handle our pharmaceutical needs. We’ve already seen shortages with antibiotics and other medications in recent months and pharmaceutical challenges are becoming more frequent today.
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