Trump Tariff Plans Raise Concerns Over Long-Term Economic Growth As Companies Accelerate Imports to Beat Tariffs

Economists warn that tariffs promised by President-elect Trump could dampen long-term economic growth, but short-term impacts show complexity. Companies are accelerating imports to avoid anticipated tariffs, potentially boosting GDP temporarily. Joe Brusuelas, chief economist at RSM, forecasts a 0.2% GDP increase this quarter, reversing in later quarters. The Port of Los Angeles reports historic cargo volumes as businesses hoard inventory, reminiscent of 2018's pre-tariff surge. Long-term implications may drive shifts in global supply chains, with some firms reshoring production while others absorb or pass on higher costs.