The announcement of President Trump's tariffs on nearly all U.S. imports has created widespread fear among investors and consumers, leading to a severe downturn in the stock market. The Dow plunged significantly, falling over 1,200 points on Friday after a record drop the previous day. The tariffs, set at a minimum of 10% on various imports from multiple countries, have drawn reciprocal responses, particularly from China. Economists predict these tariffs could lead to higher consumer prices, slower growth in the U.S., and potential global recession, despite positive job growth reports.
"Trump shocked businesses, investors, and global trading partners on Wednesday, when he announced that his long-promised tariffs would affect almost all U.S. imports."
"Economists warn the new taxes will result in higher prices and slower growth in the United States while spilling over into other countries and hurting the global economy."
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