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The economic consequences of the tariffs could be enormous, involving multiple industries, goods and groceries. William brangham discussed more with economist mary lovely. Economy plunged deeper into a devastating financial crisis that it would not pull out of until world war ii.
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But tariffs have a new champion in president donald trump. Like trump, hoover was elected largely because of his business acumen. President trump's newly implemented tariffs on canada, mexico, and china could lead to higher consumer prices and an economic slowdown, impacting american households, experts say. The federal reserve's 'beige book' report on the economy was shot through with the word uncertainty and its synonyms, as businesses braced for the impact of president donald trump's widening.
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Bankers are uncertain about the presidents endgame on tariffs and uneasy about the impact on the global economy and their own businesses. Wharton's jeremy siegel discusses how trump's tariffs may impact the economy, including the stock market, inflation, and interest rates.
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