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Trump Lifts Tariffs on Key Imports to Ease Consumer Costs

                           US President Donald Trump drops tariffs on coffee, fruit, beef as consumers face high prices. In a move aimed at addressing rising consumer prices, President Donald Trump announced the removal of tariffs on beef, coffee, and tropical fruits. The decision comes after weeks of mounting concerns from households and businesses over the cost of everyday essentials. The administration stated that lifting these tariffs will help stabilize food markets and provide relief to consumers ahead of the holiday season. Economists note that the policy shift could lower grocery bills and improve trade relations with countries that supply these goods. While supporters welcome the measure as a step toward easing inflationary pressures, critics argue that the broader trade strategy remains uncertain. For now, shoppers may see more affordable beef, coffee, and fruit on store shelves—a tangible chang...
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Market Turmoil: U.S. Stocks Plunge Amid Trump Tariff Fears

 

U.S. stocks experienced a significant decline on Friday as concerns over President Donald Trump's tariff policies spread among businesses and consumers. The S&P 500 fell by 1.7%, marking its worst day in two months, while the Dow Jones Industrial Average dropped 748 points, or 1.7%, and the Nasdaq composite tumbled 2.2%.

The losses accelerated throughout the day following several weaker-than-expected economic reports. One report suggested that U.S. business activity is close to stalling, with growth slowing to a 17-month low. The preliminary report from S&P Global indicated that activity unexpectedly shrank for U.S. services businesses, with many in the survey reporting slumping optimism due to concerns about Washington.

Additionally, a separate report revealed that U.S. consumers are preparing for higher inflation, partly due to potential tariffs that could raise prices for various imports. The University of Michigan's survey showed that consumers broadly expect prices to be 4.3% higher 12 months from now, a significant jump from their forecast of 3.3% inflation last month.

The stock market's decline was widespread, with stocks of the smallest companies, whose profits are more closely tied to the strength of the U.S. economy, falling more than the rest of the market. The Russell 2000 index of small stocks dropped by 2.9%. Within the S&P 500 index, three out of every four stocks fell, including Big Tech stocks, airlines, and metals companies.

Despite the recent downturn, the U.S. stock market remains up for the year so far and is not far from its all-time high set earlier this week. However, Friday's reports have raised concerns about the resilience of the economy, and the losses on Wall Street were widespread.


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