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What the tariff rates Trump rolled out yesterday made clear is that his goal isn't, ultimately, to bring down trade barriers.
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China vowed countermeasures and the E.U. promised a unified response, while Britain and Japan refrained from immediate retaliation.
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The president announced the biggest hike in import duties in modern U.S. history, raising the risks of a recession and stock market downturn.
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As the U.S. president weighs increasing tariffs on imports, economists find that prices across many categories could rise as a result.
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