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US CBO: Trump's Tariffs to Shrink US Econ, Intensify Inflation
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The US Congressional Budget Office (CBO) assessed the tariff measures implemented by US President Donald Trump through executive orders from 6 January to 13 May. It is expected that the tariff policy will shrink the US economy and intensify inflation, meanwhile reducing the federal deficit by US$2.8 trillion. The analysis found that the tariffs will lead to a decrease in US GDP growth by 0.06% annually, and the real GDP will be 0.6% lower in a decade than CBO's previous estimation. Inflation will rise by an annual average of 0.4 ppts in 2025 and 2026, thereby reducing the purchasing power of households and businesses. AASTOCKS Financial News Website: www.aastocks.com |
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