Trump, Tariffs and Taxes: How He’ll Turn Campaign Promises Into Policy

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 10 November 2024

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

President-elect Donald Trump made lots of promises on the campaign trail to revive what he called a “weakened” U.S. economy. That includes “gigantic tax cuts” for workers and tariffs of more than 60% on goods imported from China and elsewhere. He also pledged to slash regulations, even floating the idea of making Tesla CEO Elon Musk the head of a Department of Government Efficiency, or DOGE. But how will he turn those economic promises into reality? WSJ economic policy reporter Brian Schwartz and U.S. tax policy reporter Richard Rubin explain how Trump could take executive action, where he might need help from Congress and why some business leaders may put up resistance to some of his economic plans. Luke Vargas hosts. Further Reading What Trump’s Win Means for the Economy Trump’s Comeback Reverberates Through Markets What a Trump Win Means for Immigration, Wall Street, Foreign Policy and Healthcare Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:25.9	This is not a recommendation or offer to buy, sell, or retain any specific investment or
0:29.6	service.
0:32.3	Hey, What's News listeners.
0:33.7	It's Sunday, November 10th.
0:35.5	I'm Luke Vargas for the Wall Street Journal, and this is
0:38.0	What's News Sunday, the show where we tackle the big questions about the biggest stories in the
0:42.8	news by reaching out to our colleagues across the newsroom to help explain what's happening
0:47.0	in our world. Donald Trump was elected this past week on a promise to turn around what he
0:52.7	called a weakened U.S. economy by rebalancing
0:55.8	trade through tariffs, cutting taxes, and cutting regulation.
1:00.3	I will pass gigantic tax cuts for workers and keep their jobs here in the United States.
1:05.8	There will be no tax on Social Security. We're going to stop it. We're going to have 10 to 20 percent tariffs
1:14.5	on foreign countries that have been ripping us off for years. Some might say it's economic nationalism.
1:20.5	I call it common sense. But what does the path from campaign promise to implementation look like
1:27.2	and what tools or political support will Trump need to deliver on that agenda?
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