President Trump has agreed to pause 25 percent tariffs on imports from Mexico and Canada for a month, while a 10 percent tariff on Chinese imports took effect. The threat of a tariff war remains as Mexico and Canada had warned of retaliatory tariffs, and China has announced tit-for-tat tariffs. Trump justified the tariffs by accusing the countries of not preventing drugs and illegal immigration, as well as addressing trade deficits. Past tariff wars, such as the Smoot-Hawley Tariffs in 1930, have shown negative economic impacts and led to the signing of trade agreements to negate the effects.
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Trump visits US Federal Reserve HQ amid feud with Chairman Powell | Donald Trump News
President Trump visited the Federal Reserve's headquarters to criticize the $2.5bn renovation of its buildings, calling it excessively costly, while also pressuring Fed Chairman Jerome Powell to lower interest rates. Amid rising tensions over the Fed's monetary policy and renovations, Trump claimed the project's costs were inflated, leading to accusations of mismanagement from the White House. Want More Context? 🔎
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