The US import costs of steel and aluminium are projected to rise by over $100 billion following Donald Trump’s recent tariff increase to 50%. This new levy, effective Wednesday, adds an estimated $52.6 billion annually to steel and aluminium costs, doubling previous forecasts. Analysts note that the complex tariff landscape complicates predictions for trade flow and price changes, while US manufacturers may need to raise prices by 2% to maintain profits amid rising costs, impacting earnings of industrial goods manufacturers by 5-10% without price adjustments.
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Eurozone inflation rose to ECB’s 2% target in June
Eurozone inflation rose to 2% in June, aligning with the European Central Bank's target and increasing from May's 1.9%. While the ECB has reduced rates to 2% since last summer, it is expected to pause further cuts, influenced by geopolitical events affecting oil prices and a stronger euro, which has appreciated nearly 14% against the US dollar this year. Explain It To Me Like I'm 5: In June, prices in Europe went up by 2...
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