New York City, New York Nov 21, 2024 (Issuewire.com) - Donald Trump, the elected President of the United States, has sparked considerable controversy with his hardline stance on tariff policies. Seth Carpenter, Chief Global Economist at Morgan Stanley, mentioned in an interview that Trump's proposed tariffs would lead to higher inflation and weaken future economic growth in the U.S.
Since his campaign, Trump has repeatedly claimed he intends to impose tariffs of 10% to 20% on all imported goods, with an additional 60% to 100% tariff on Chinese products.
Many economists have already warned that the intensity and scope of global trade friction could escalate, potentially resulting in retaliatory tariffs against the U.S.
Current pressing questions include whether these tariffs will be implemented, when they will take effect, and how quickly.
In an interview during Morgan Stanley's annual Asia-Pacific summit in Singapore, Carpenter pointed out that if Trump's proposed tariff policy is implemented, it will lead to higher inflation.
He also noted that if these measures are enacted simultaneously, they could cause a "massive negative shock" to the economy. However, he maintained Morgan Stanley's basic assumption that these tariffs will be phased in starting in 2025.
"It is clear that tariffs will push up inflation; it is also clear that not only will the economies of countries subjected to tariffs be dragged down, but the U.S. economy will also suffer... We believe that by 2026, due to these tariff policies and other measures, U.S. economic growth will begin to decline significantly."
Not only Carpenter shares this concern; Mark Malek, Chief Information Officer at Siebert, also pointed out that if the proposed tariffs are implementedespecially on top of the tariffs already imposed by the Biden administrationa, a range of industries, including automotive, consumer electronics, machinery, construction, and retail, will face higher inflation.
More On Worldnewsquest ::
- Press release on Villa Del Palmar Beach Resort and Spa, Puerto Vallarta, Mexico
- Lee S. Cohen, MD, a Podiatrist with Dr. Lee S. Cohen - Associates
- Adolphus T. Miner Jr., Recognized by BestAgents.us as a 2024 Top Agent
- GLOBAL COFFEE MARKET – by type, TRENDS, COVID-19 IMPACT, AND FORECASTS (2021 - 2027)
- Canadian Neurotechnology Company Zentrela Launches Groundbreaking Education Program Based on Novel Brainwave Research
Malek stated that Trumps proposal to impose a 60% tariff on Chinese goods, combined with Bidens current 100% tariff on electric vehicles made in China, will "seriously impact" the automotive industry. Additionally, a general 10% tariff on imported consumer electronics will increase costs for companies like Tesla, Microsoft, and Apple. These high costs will ultimately be passed on to consumers, leading to higher inflation.
Data shows that the Consumer Price Index (CPI) in the U.S. rose by 2.6% in October compared to the same period last year, slightly up from a 2.4% increase in September. Despite this slight uptick, the U.S. The inflation rate is on a downward trend after reaching multi-year highs, prompting the Federal Reserve to cut interest rates.
Currently, the official tariff policy has not been fully announced, leading to ongoing fluctuations in various investment markets, including U.S. stocks, bonds, the dollar, and gold. MAXE advises ordinary investors to stay vigilant and avoid making blind investments at this stage. New developments in the financial market could easily result in losses for investors' portfolios.
For ordinary investors, timely news is essential for making early adjustments to their investment portfolios. However, the information that reaches them is often outdated. Therefore, finding ways to access more current information is a crucial challenge they need to address.
To address these challenges, MAXE, an innovative investment tracking app, is dedicated to helping investors find asset portfolios that suit their needs, said the CEO of MAXE. We provide users with direct access to the portfolios of respected investors, fund managers, and government officials. By tracking real-time changes, we empower users to navigate the complexities of the financial market with confidence. This feature removes information barriers that hinder investors, keeping them updated on market developments. As a result, users can make timely adjustments to their portfolios, aligning their strategies with those of industry leaders.
MAXE provides everyday investors with a distinctive opportunity to delve into the investment portfolios of influential individuals, such as notable investors, fund managers, and government officials. This feature enables users to monitor significant shifts in these holdings in real-time, helping them navigate the considerable information barriers that often exist in financial markets. By offering timely insights, MAXE ensures that users stay informed about market trends, allowing them to make well-informed decisions that align with the strategies of industry leaders.
To further support investors who might miss critical opportunities due to delays in information, MAXE has introduced an innovative AI-driven financial management assistant. This advanced tool leverages big data and a unique algorithm to curate the most recent financial insights from trustworthy sources. Users can interact with the assistant by posing questions about their financial situations and receiving tailored investment and financial management strategies that reflect current market dynamics and analytical data. This personalized approach empowers users to navigate the market more effectively and enhance their strategic decision-making.
Moreover, MAXE provides real-time market data on a variety of popular assets, including stocks, bonds, commodities, and foreign currencies. The information is visualized in an engaging manner, making complex data more accessible and easier to comprehend. MAXE also aggregates comprehensive information about users' assets of interest, such as news updates, financial developments, and regulatory filings. This thorough compilation offers users a holistic view of their chosen assets, aiding them in making informed investment choices.
The immediacy of these features is particularly beneficial for those looking to seize market opportunities. By analyzing the strategies of successful investors, users can implement effective techniques and allocation models, refining their own investment strategies. This ongoing learning process not only enhances their understanding of prudent investment practices but also cultivates a culture of informed decision-making. Ultimately, MAXE equips everyday investors with the essential tools to navigate the complexities of financial markets with increased confidence and clarity, transforming them into more skilled participants in the investment arena.
MAXE serves users worldwide, with over 300,000 downloads of the app to date. This milestone reflects a growing recognition of MAXE's value, as more individuals turn to the app to enhance their investment and financial management strategies.
MAXE is now available on Google Play and the App Store! Say goodbye to traditional financial management methods and step into the future of finance with MAXE. For more information, visit our website at www.maxeai.com and follow us on social media for the latest updates and tips on financial management.
Source :MAXE AI
This article was originally published by IssueWire. Read the original article here.