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Kenya's economy faces climate change risks: World Bank
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'For sure': Macron to preach stronger Europe vision at G7 swansong
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Crude prices plunge, stocks surge on US-Iran peace deal
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Starbucks Korea to shutter outlets for history lessons after 'Tank Day' fiasco
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Courts cracking down on error-strewn AI-assisted legal briefs
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Bitter communion: Cuban priests ordered to ration mass wafers
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In crisis-hit Cuba, World Cup offers brief respite
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UK intercepts Russian shadow fleet vessel in Channel
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London, Tokyo agree $24-bn investment deal
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Indonesian economy comes up for air but struggles to win back investors
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Trump says US-Iran deal to be signed Sunday, Hormuz to open after
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Between Trump and a hard place: Fed chair Warsh to lead first rate meeting
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High-school drop out to big time crime boss, Venezuela's 'Nino Guerrero'
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US-Iran deal could be finalised soon, mediator Pakistan says
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Thousands gather in Thai capital to mourn late princess
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US says downed multiple Iran drones as both insist deal closer
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SpaceX: Five key moments, from first launch to Starship megarocket
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US clears Paramount's $111 bn Warner Bros. takeover
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Iran and US say deal closer than ever
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Cuba opens more sectors to private business
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World Cup struggles to ignite US excitement
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US appellate court upholds Sam Bankman-Fried criminal sentence
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France bids farewell to girl, 11, whose killing sparked outrage
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Wall Street wobbles as SpaceX shares launch, oil slides on Mideast deal hopes
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SpaceX lifts off in record Wall Street debut
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US deportation flight carrying Iranians en route to C.African Republic
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At a Libyan university once ravaged by war, students dream again
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Kenya mourns schoolgirls killed in suspected dorm arson attack
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Stocks rally, oil slides on Mideast deal hopes
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'All of us of are migrants,' pope says in Canary Islands
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Switzerland split on immigration vote: four perspectives
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Thai princess dies aged 47 after three years in hospital
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Science fiction? Musk's lofty SpaceX goals unrealistic, skeptics say
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Asia stocks up, oil down on Mideast deal hopes
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From cage fights to the White House, UFC marches into mainstream
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Pope ends Spain visit with migrant meetings
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Ex-Tottenham owner sells art collection in blockbuster auction
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Antarctic Peninsula sees record high June temperatures
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US stocks rally, oil prices fall as Trump calls off fresh Iran strikes
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SpaceX to make historic IPO that could make Musk a trillionaire
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El Nino is back, but its effects vary widely
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First leather bag from T-Rex cells to be auctioned in Paris
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Four times as many icebergs calved from Greenland glaciers: study
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Stocks rebound, oil wavers as traders weigh Iran, rates outlook
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Niger criminalises same-sex relations with jail terms
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Smuggled dinosaur fossils return to Mongolia after two decades
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Over 260 Nigerians fleeing xenophobic attacks in S. Africa return home
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Pope condemns 'indifference' towards migrants on Canaries trip
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Sweden withdraws controversial proposal to jail 13-year-olds
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Economic pressures 'manageable': Indonesian deputy finance minister
Trump's expanded tariff risk
Donald Trump (78), the former 45th and now 47th President of the United States, is preparing a surprising tariff package that could fundamentally change US trade policy. However, this package, which is intended as part of his strategy to strengthen the American economy, could have unexpected negative consequences that Trump may ultimately regret.
The expanded tariff package aims to tax further imports from certain countries in order to protect American companies and promote domestic jobs. In particular, tariffs on products from China, Mexico and the European Union are to be increased. Trump argues that these measures are necessary to combat unfair trade and restore the US as a leading economic power.
However, experts warn of the potential risks of this policy. Firstly, renewed tariffs, following the recent harsh US tariff measures, could lead to an escalation of trade conflicts, which could result in countermeasures by other countries and a global trade war. This would not only burden the American economy, but also jeopardise global economic stability.
Secondly, the new tariffs could increase prices for consumers in the US, as companies would pass on the additional costs to end customers. This could lead to inflation and reduce Americans' purchasing power.
Thirdly, the tariffs could damage relations with important trading partners and undermine confidence in the US as a reliable economic partner. This could have long-term implications for international cooperation and the geopolitical position of the US.
Fourthly, the tariffs could also have political consequences for Trump. If the measures fail to deliver the desired economic results or even have negative effects, this could weaken his support among voters and hurt his chances of re-election.
Overall, Trump's expanded tariff package would be a risky move that carries both economic and political risks. Although it is being presented as a means of strengthening the American economy, the long-term consequences could cause Trump to regret his decision.
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