Trump’s Tariffs Rattle the Markets
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The Associated Press |
The trade war President Donald Trump promised has begun, threatening the world economy and straining the United States’ longstanding alliances in Europe and Asia.
U.S. News & World Report |
Asian markets retreated Friday after Wall Street shuddered with a level of shock unseen since the COVID-19 impact tore on Trump's latest set of tariffs' damage on the world's economy.
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Mr. Trump has said the two new tariffs he unveiled yesterday — a 10% universal duty on all U.S. imports and so-called reciprocal tariffs applied to imports from 90 nations — will revitalize American manufacturing, create jobs and generate federal revenue.
The administration is trying to head off painful retaliatory measures, forcing big trading partners to decide whether fighting is worth it.
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