🇺🇲 Breaking New💥
US President Trump has just unleashed a massive economic shockwave across the nation.
President Trump's latest economic moves are sending shockwaves across the nation. He's introduced sweeping tariffs on nearly every country, aiming to correct US trade deficits and boost domestic manufacturing. This has led to a surge in tariff collections, with $215.2 billion collected in Fiscal Year 2025 and $41.6 billion already reported for Fiscal Year 2026.
*Key Impacts:*
- *Inflation Concerns*: Economists warn tariffs could increase consumer prices by 1.2% in the short run, equivalent to a $1,700 income loss per household.
- *Unemployment*: Tariffs may raise unemployment by 0.5-0.6 percentage points.
- *Stock Market Volatility*: Trump's trade wars have caused wild stock market fluctuations.
*Tariff Details:*
- Universal 10% tariff on nearly all countries
- Higher rates on many countries, including China
- 25% tariffs on steel and aluminum imports
The OECD predicts global GDP growth will slow to 2.9% in 2026 due to Trump's tariff policies. The US economy is expected to grow 1.5% in 2026, down from 2.8% in 2024
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