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RNC focuses on economy despite challenges

During the first night of the Republican National Convention, despite recent political turmoil and the shooting at a rally, the primary focus was on the economy. Speakers supported former President Donald Trump's claim that his return to office would resolve inflation and restore prosperity. Trump, noted for lacking detailed economic policies and legislative plans, suggests reducing corporate taxes slightly and imposing tariffs on trade partners. His platform promises vast improvements like defeating inflation and boosting fossil fuel production, but critics argue these plans could spur severe economic repercussions. Economists and Democrats warn that Trump’s policies might trigger rampant inflation, burden the middle class, and significantly increase the national debt by over $5trn. While Trump refrains from detailing his strategies, his stance on high tariffs could potentially exacerbate inflation and cost U.S. households significantly. Meanwhile, President Joe Biden presents a detailed economic vision, contrasting sharply with Trump’s approach, which some see as a potential repeat of his first term's policies with heightened extremities.

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