The Economic Implications for Asia of the Trump Program.

Dr. Marcus Noland's paper explores the economic implications of former President Donald Trump's proposed tariffs and policies on trade, immigration, and the Federal Reserve Board. The modeling work suggests that while Trump's program may harm the US economy, it could benefit other countries, including many in Asia. The study shows that capital flows out of the US into Asian countries, with Japan being the exception due to its reliance on US capital goods. The research also highlights the potential negative effects of eroding Fed independence and the importance of central bank autonomy in reducing inflation rates. [Extracted from the article]