The Memo: Trump tariff threat muddies economic picture ...Middle East

President-elect Trump’s emphatic promise of new tariffs is sharpening the debate over how he will handle the economy. It’s likely the single most important domestic issue of his second term. Trump is poised to enjoy almost perfect timing in taking the reins of an economy on the rise. Inflation has tapered all the way down to 2.6 percent in the latest figures. Price rises had peaked at 9.1 percent in June 2022, 17 months after President Biden took office. The political wounds inflicted at that time contributed to Vice President Harris’s defeat by Trump in November’s election. The unemployment rate is a modest 4.1 percent. And, in September, the Federal Reserve cut interest rates f

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