As the Trump administration finalizes its plans to implement tariffs against foreign steel and aluminum, it's clear that the president doesn't mind ignoring economists — even within his own administration.
The Trump budget, first rolled out in January, shows a similar rejection of economic orthodoxy. Despite hawkish rhetoric about reducing the national debt during his campaign, the president's budget for 2019 would add nearly $1 trillion to the debt. During a period of economic growth, that kind of deficit spending is raising economists' eyebrows. Like the man himself, Trumponomics is decidedly unorthodox, and investors are uncertain about how the economy will react in the long run.
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