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Trump Tariffs ‘as Big an Inflation Threat as COVID-19’

  • President Trump announced new tariffs affecting nearly 90 countries on April 2, raising some duties as high as 50%, then paused most levies a week later.
  • The tariffs stemmed from trade negotiations with a 90-day deadline ending July 8, with uncertainty remaining over which countries might face reduced or restored tariffs.
  • Business leaders report that tariffs combined with rising interest rates and supply chain disruptions have increased operational costs, especially for small and mid-sized enterprises .
  • A MYOB survey shows 17% of SMEs feel tariff impacts, 41% expect global economic destabilization, and more than one-third foresee higher business costs and inflation.
  • The tariff situation and increasing government debts suggest policymakers must act decisively to balance economic growth and stability, while further tariff changes may depend on negotiation progress.
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In just a few days Trump's extended tariff break ends. What about the tariffs? A Trump consultant takes the hope that the tariffs will disappear.

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Business Insider broke the news in United States on Thursday, June 26, 2025.
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