President Trump's recent announcement of new tariffs threatens to lead to a global trade war, resulting in economic uncertainty. Experts have noted that despite a significant stock market plunge and potential increases in consumer prices, consumers should avoid panic and adhere to their financial goals. Matt Schulz from LendingTree emphasizes the importance of continuing to focus on long-term plans, such as retirement and education savings. Although economists analyze the potential risks of these tariffs, administration officials express confidence that any ensuing economic pain will be temporary.
"Regardless of whether tariffs are implemented, your goals are still your goals. You still need to invest in your retirement. You still may need to save money to buy a home, pay for your kid's college education or pay for a wedding."
"There will be a short time of uncertainty, and then we'll move back to the prosperity that this president has envisioned."
"I don't think we should take what happened yesterday lightly. It could be devastating to the economy."
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