Donald Trump unveiled on Monday an economic package that is now being criticized by Swedish experts who argue that his policies are unclear and unserious. Photo: Evan Vucci / AP
In Monday’s speech Detroit, the US automotive industry’s past pride, featured Republican presidential candidate Donald Trump its proposals to get better spin on the US economy. The proposals include a “financial fresh start” for the US and “especially for those who are worst off,” said Trump in the beginning of his speech.
Donald Trump raised including proposals to lower taxes for companies from 35 to 15 percent, which should make empty nesters American companies move home and start paying taxes in the country. In Trump’s promises many new jobs and a simplified tax legislation.
– He comes with great promises, but very little is concrete. So far, it is an unserious and unclear policies, says Anna Breman, chief economist at Swedbank, and continues:
– I do not think the policy is feasible. It would be extremely expensive and it is unclear how it would be financed.
During the speech mentioned Donald Trump on several occasions that he will return in a few weeks with further details of his economic policy and how to implement it.
– I see no major surprises in the century compared to what he said before. The most important is the tax cuts he proposes a very aggressive tax reduction, says Robert Bergqvist, chief economist at SEB.
Is it feasible?
– It is an impossible economic equation. I find it very difficult to see how Trump will implement gigantic tax cuts and at the same time spend more on defense, says Robert Bergqvist, adding:
– You have to have some understanding of political rhetoric and it bolted on the truth of election campaigns . But the image that Donald Trump paint is unusually illogical and doped with optimism.
Why he presents “illogical” proposals?
– The logic must stand aside for hope for the headlines. Promises of large tax cuts penetrate the information overload and through it he hopes to win votes.
According to Robert Bergqvist is clear that Trump wants to emulate himself with the former US President Ronald Reagan. He also took a hard line regarding the US taxes.
– He’s trying to shake the same way Reagan did and go down in history for turned upside down on US taxes, he said.
If Donald Trump becomes America’s next president, his economic policies to be stopped by the US Congress. It is both Robert Bergqvist and Anna Breman assured.
– Trump will not be able to implement this policy. The American system is built so that nonsense in politics will break ground in Congress. It acts as a safety valve, and Trump goes forward with their proposals, they stopped there, says Robert Bergqvist, chief economist at SEB.
Anna Breman is on the same track:
– I see it as unlikely that the proposals would be voted on in the US Congress.
According to Dag Blanck , a professor of North American Studies at Uppsala University, is Trump’s proposal to lower taxes and less regulation a trying to unite the shattered Republican party.
– There are questions that the Republican party, especially in the house of Representatives, pushed past. It is certainly a very conscious choice to try to unite the party and appear to be a realistic candidate, says Dag Blanck, and adds:
– At the same time he still away from the traditional Republican stance regarding free trade. At that point it was a speech that was breathing very heavily of nationalism.
During century suggested Donald Trump to several free trade agreements, including NAFTA, to be renegotiated or terminated.
– There is a very clear protectionist approach with clear positions against free trade. It would be bad for the world economy and global growth of Donald Trump stop future free trade agreements.
According to Robert Bergqvist is the kind of protectionism nothing unusual in the US presidential election, but Donald Trump has taken it to a new level.
– Regarding trade, he is hard and tough. He burns trade bridges to China and want to renegotiate NAFTA or leave if it is not to America’s advantage. There is an unusually high volume of protectionist statements.
Are you worried that Donald Trump will win the election?
– I’m not worried about Donald Trump when it comes to economic policy but feel confident that Congress grinds down zany proposals. However, the president of Congress run in the security and foreign policy. There is the big problem, says Robert Bergqvist, chief economist at SEB.
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