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Trump tariffs will cost average US family $1,600 or more per year: analysis
- U.S. consumers will feel the financial impact from tariffs on everyday goods, as experts predict increased costs in groceries and essentials.
- According to economist Hsu, tariffs create a lose-lose situation, with U.S. consumers bearing most costs while other countries face less punishment.
- Stocks dropped on the day tariffs were implemented, reflecting investor concerns about the financial implications.
- Experts estimate that the average household could spend up to $2,000 more annually if a 25% tax is enacted on goods from Mexico and Canada.
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Donald Trump's tariffs will continue to push up consumer prices in the US, but there are even other problems that threaten, and the biggest could undermine the sovereignty of the US.
·Dortmund, Germany
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US inflation accelerated to three percent year-on-year in January. It was the highest since last summer. It made eggs more expensive, but also other foods, drinks, gasoline and accommodation. According to economists, the increase in prices was also supported by the announced higher US tariffs. After their implementation, President Donald Trump will hardly fulfill his campaign promises to reduce inflation, they believe.
Coverage Details
Total News Sources80
Leaning Left21Leaning Right7Center17Last UpdatedBias Distribution47% Left
Bias Distribution
- 47% of the sources lean Left
47% Left
L 47%
C 38%
15%
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