Commerzbank: U.S. tariffs will push up inflation and weigh on the economy

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ODAILY
03-04
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Odaily News reported that German bank economists Bernd Weidensteiner and Christoph Balz said that Trump's tariff measures not only could push up inflation in the US, but also increasingly become a risk to economic growth. The economists said in a report that consumer confidence has recently come under pressure, and the latest tariff measures are unlikely to provide much relief. Indicators such as the price component of the Purchasing Managers' Index show that commodity prices have risen sharply again. The economists said that in 2024, Mexico and Canada will account for 28% of US imports, and China will account for 13.4%, meaning that 41.5% of US imports will be affected by the significant tariff hikes. They added: "This will have an impact on prices."

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