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Trump’s tariffs: How will it hit me in my pocket and shopping trolley?

  • Donald Trump has announced a plan to impose a 20% tariff on the European Union, which may lead to higher prices for U.S. Consumers as businesses pass on costs.
  • Economic experts predict that tariffs could increase inflation, affecting European markets and could lead to increased borrowing costs for consumers.
  • John Swinney emphasized support for Scottish industry amid concerns that tariffs could harm them financially and lead to reduced economic growth.
  • Analysts have warned of a high risk of a recession in the U.S., suggesting significant economic repercussions from the tariffs.
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Your Money broke the news in on Friday, April 4, 2025.
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