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Trump's tariffs threaten to end quarter-century era of cheap goods for U.S. consumers

  • President Trump increased tariffs on China, escalating the existing trade war on April 10, 2025.
  • Trump's actions followed perceived disrespect from China toward global markets, impacting many businesses.
  • The tariffs included a 10% baseline levy, but Trump raised China tariffs to 125% and later announced a 90-day pause.
  • Trump stated he was raising China tariffs and pausing reciprocal tariffs; Commerce Secretary Lutnik said the world wants to fix trade.
  • Yale's Budget Lab estimates these tariffs could cost the average U.S. Household an extra $4,400 annually.
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retail-insight-network.com broke the news in on Wednesday, April 9, 2025.
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