Trump Proposes New Economic Policies with Musk's Support

During a recent address at the Economic Club of New York, former President Donald Trump presented a series of economic policy proposals, notably backed by Elon Musk. Trump revealed plans for a government efficiency commission tasked with conducting a complete financial and performance audit of the federal government, with the intent of recommending drastic reforms. Trump emphasized the bloated nature of government, hinting at the popularity of Musk's potential reforms, akin to Musk's infamous takeover of Twitter, where he significantly reduced the workforce. In further details about his proposals, Trump mentioned the consideration of a 15% corporate tax rate for companies manufacturing solely within the U.S. He expressed the necessity of revoking ten old regulations for every new regulation implemented, advocating for a more streamlined regulatory environment. Trump suggested the idea of increasing tariffs on imports, proposing an escalation from 10% to potentially even higher rates on certain goods. The crux of Trump's message seemed to resonate with the discontent around government inefficiencies, prompting skepticism about whether any significant change would occur considering the historical inertia in Washington. Economic analysts remain unsure about the weight Trump's proposals will carry just two months ahead of the highly contested elections, as both he and Vice President Kamala Harris target key swing states such as Pennsylvania to gain voter support in an increasingly close political race.