Trump has advanced ideas for slashing inflation, including extending 2017 GOP tax cuts

Scott Olson/Getty Images

The Trump campaign has suggested slashing inflation by extending the 2017 GOP tax cuts, loosening regulations on energy, implementing unparalleled tariffs on imports worth trillions of dollars and conducting extensive deportations of illegal immigrants currently working in the country.

Trump, the Republican primary frontrunner, has also floated the idea of implementing a 10% tariff on all incoming goods to the U.S., the Washington Post reported in August. The plan targets China, aiming to phase out imports and limit Chinese ownership of critical U.S. infrastructure, such as farmland, due to national security concerns. The Chinese government would be prohibited from purchasing infrastructure in sectors like energy and technology.

Penalties would also rise for unfair trade practices like currency manipulation, and Trump will try to get his “Trump Reciprocal Trade Act” passed in Congress. The legislation would allow the former president to impose a tariff on any country that places one on the United States.