look news india
New York: Goldman Sachs, an organization that constantly monitors and analyzes the economy of most countries in the world, has come to a clear conclusion about the 2024 US presidential election that if Kamala Harris wins the presidential election instead of Trump, it will be best for America. This will also be very good for the American economy.
This analyst organization further said that Republicans have a majority in Congress and on the other hand if the former President is elected as the President of the United States for the second time, then the economic growth rate of the United States will decrease. Because his decision to control immigrants on the basis of numbers and increase duty on imports from countries like China will hinder development. Therefore, the constructive economic momentum will remain weak.
The think tank further said that if the Democrats win the election and Kamala Harris becomes the President, the middle class will clearly benefit from higher government spending. Therefore, the loss caused by higher corporate tax will be compensated by lower capital investment. On the other hand, domestic production will get a boost. Hence, the GDP will be confirmed.
Goldman Sachs further said that 10,000 new jobs are likely to be created per month during Harris' tenure. Harris' economic plan supports working families. She has increased the child tax credit to give low-to-middle income families a credit of $6,000 per child. She has also promised to reduce the price of prescription drugs, groceries, and Wall Street's intervention in the construction sector.
Goldman has backed Kamala's promise by saying that they can create 10,000 new jobs every month. This number is much more than the 30,000 jobs created during Trump's four-year term. The number of employees and workers is sure to grow under Harris' leadership, even if at a slower pace than under Trump's policies, but the growth is likely to continue.
According to Trump's economic policies, import taxes on all imported goods are going to increase by 10 percent. It is argued that this will offset the text he presented in 2017. However, he said, this does not seem likely.
Many analysts say that Trump wants to impose tariffs on imports from China again. Therefore, Trump has demanded a 100 percent increase in import tax on electric vehicles imported from China and a 40 percent increase in import tax on other imports from China, but Goldman Sachs is of the opinion that this will do more harm than good to the economy.