AssetID: 54672723
Headline: UNCAPTIONED: US Economic Growth at Risk as New Tariffs Set to Raise Prices, Warns Fed Chair
Caption: US Economic Growth at Risk as New Tariffs Set to Raise Prices, Warns Fed Chair. Jerome Powell, chair of the Federal Reserve, has warned that new tariffs on imported goods will hurt US economic growth and raise prices for consumers. Powell said the import taxes recently announced by President Donald Trump were higher than expected, exceeding the bank's initial forecasts. His remarks follow global market turmoil as investors react to the escalating trade war between the US and China. Powell also noted a significant drop in economic confidence among businesses and households, largely driven by concerns over the tariffs. Since returning to office, Trump has imposed a 10% tax on imports from most countries and escalated tariffs on Chinese goods to 145%, with some exemptions for smartphones. In retaliation, China has imposed tariffs of 125% on US products. Despite claims that tariffs will boost US manufacturing, stock markets have shown signs of anxiety. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Jerome Powell,chair of the Federal Reserve,warned,new tariffs,imported good,hurt,US economic growth,United States,prices,raise,consumers,President Donald Trump,escalated,exceeded,initial forecasts,higher,boos,manufacturing,stock markets
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