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Economic turmoil created by Trumps tariffs will affect everything from coffee to interest rates
2025-04-10 10:45:03| Spiritual Career Counseling
Politically, Trumps decision was perhaps the biggest intervention by a US president in an Australian federal election since Lyndon Johnson visited the nation in October 1966 to effectively endorse Harold Holt who would lead the Coalition its largest ever victory.The economic turmoil is being driven by two factors. Trumps plan upends how the globe has operated and grown since the 1940s. It also means huge financial shocks that will filter through governments, businesses and consumers.The biggest hit will be borne by Americans.The Budget Lab at Yale, a non-partisan research centre, estimates the tariffs announced this week will lower American economic growth this year by 0.5 percentage points. In the long term, it puts the permanent annual cost at between $US100 billion to $180 billion.You can see how it comes to such a large number. It reckons the tariffs on countries that supply many of Americas clothes such as Bangladesh (tariff hit of 37 per cent) will push up apparel pric... [ more ]
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2025-04-09 22:45:04| Spiritual Career Counseling
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