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What will be the impact on U.S. inflation by the end of 2025 due to tariffs?
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Resolution / Starting Odds
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U.S. Bureau of Labor Statistics inflation reports
Story
Trump Threatens 25% Tariffs on Mexico, Canada, and China Amid Reactions
Nov 26, 2024, 09:45 PM
President-elect Donald Trump has announced plans to impose sweeping tariffs on imports from Mexico, Canada, and China, including a proposed 25% tariff on Mexican goods. These measures are part of his broader strategy to address trade imbalances and reduce what he describes as an 'invasion' of goods into the U.S. The tariffs could significantly impact financial markets, which have already shown signs of volatility following the announcement. Additionally, U.S. lumber prices, which have risen due to reduced production in Canada, may see further increases if the tariffs are implemented. Canada and Mexico have reacted to the announcement, raising concerns about its implications. Furthermore, concerns have been raised about potential price increases for American consumers, which could conflict with Trump's campaign promise to ease inflationary pressures on families.
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