United States Studies Centre at the University of Sydney reposted this
Great to dissect Trump's inauguration speech this morning alongside Bruce Wolpe. Trump has promised to immediately overhaul the trade system with tariffs and taxes. He says this will see massive amounts of money 'pour' into the treasury from 'foreign sources'. As tariffs are paid by US importers and either borne by the company or passed onto the American consumer, it's hard to see how Trump will extract payments from foreign sources. More likely, the US economy will take a hit and inflation will rise. Time will tell how extreme the tariff policy will be. Read our comments in this interactive The Sydney Morning Herald piece: https://lnkd.in/gPuj5Tbs