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How will Trump’s tariffs game affect U.S. businesses and consumers?
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U.S. President Donald Trump has imposed a 25 percent tariff on all steel and aluminum imports. What are the potential consequences? Anthony Chan, former chief economist at JP Morgan Chase, predicts that the move will not significantly boost U.S. steel production and instead create uncertainty for U.S. businesses, complicating future planning and causing substantial damage. It will also negatively impact everyday Americans, especially low- and middle-income households. "The collateral damage is quite severe," Anthony says.
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