Former President Donald Trump has been describing President Joe Biden's administration as a disaster for the economy while presenting himself as the man who will correct course. But analysts from Goldman Sachs warn that it's Trump who would jeopardize an economic recovery with wrongheaded ideas on trade, immigration and other issues.
According to a report released by the investment bank on Tuesday and shared with several news outlets, Trump's policies, if implemented, could cut into the U.S. gross domestic product (GDP) by as much as half a percentage point in 2025 before it rebounds. Even a small decrease in GDP or just slow growth could lead to widespread unemployment, pay cuts and struggling businesses.
