What are the costs behind Trump’s economic proposals?

Donald Trump’s proposed economic policies for his 2024 presidential bid include imposing tariffs of at least 10% on all US imports, and up to 60% on Chinese goods, aiming to boost government revenue. Analysts warn these tariffs could cost American households $1,700 annually and add $500 billion yearly to consumer costs. Additionally, extending Trump’s 2017 tax cuts could inflate the deficit by $4.6 trillion over a decade, according to the Congressional Budget Office, potentially offsetting any tariff gains and requiring spending cuts. Photo: AFP