In a bold move, Trump has announced a 20% tariff on imports from the European Union and a 10% levy on goods from Brazil. This decision is set to reshape international trade dynamics, stirring reactions from both allies and rivals alike.
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Trump’s tariff increase sends shockwaves through European markets, with Milan’s exchange taking a notable hit, plummeting 3.6%. Investors brace for uncertainty as trade tensions escalate, prompting a reevaluation of global economic prospects.
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The recent projections indicate a potential 3.14% decline in GDP, largely attributed to tariffs imposed during Trump’s administration. As trade dynamics shift, the economic landscape faces significant challenges that could reshape growth trajectories.
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