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Here’s what could soon cost you a lot more because of Trump’s massive tariffs

  • President Trump announced new tariffs on Wednesday, impacting numerous countries and various imported goods.
  • The tariffs aim to address trade deficits and rebuild American manufacturing, but economists warned of higher prices.
  • The tariffs include a baseline 10% tariff on all imports and higher rates for roughly 60 'worst offender' countries.
  • Former IMF chief economist Ken Rogoff said, "He just dropped a nuclear bomb on the global trading system."
  • These tariffs may lead to increased consumer prices on goods, potentially triggering retaliatory measures and global trade wars.
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How Trump’s latest tariffs could affect your wallet

NEW YORK (AP) — President Donald Trump has unveiled his latest tariffs, and they could have significant implications for your wallet. Trump’s sweeping new tariffs, on top of previous levies and retaliation worldwide, are expected to increase prices for everyday items. The trade wars have already roiled financial markets and plunged businesses into uncertainty — all while economists warn of potentially weakened economic growth and heightened ineq…

·Washington, United States
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Kyodo News+ broke the news in Japan on Wednesday, April 2, 2025.
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