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The Breakdown: Can Americans afford the ‘short-term pain’ of Trump tariffs?

  • President Trump signed an executive order imposing tariffs on goods from countries exporting to the United States.
  • The White House indicated these tariffs address currency manipulation and unfair competition in trade.
  • Key trading partners will face higher rates under the order, affecting multiple economies.
  • Tariffs will reach 54% on Chinese imports, 26% on Indian goods, 24% on Japanese products, and 20% on EU goods.
  • Economists are raising the probability of a recession, as the cost of tariffs is expected to pass to consumers.
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Comic Sands broke the news in on Wednesday, April 2, 2025.
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