Deutsche Bank: U.S. tariffs will push up inflation and drag down the economy
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Golden Finance reported that Deutsche Bank economists Bernd Weidensteiner and Christoph Balz said that US President Trump's tariff measures could not only push up U.S. inflation, but also increasingly likely to become a risk for economic growth.
Consumer confidence has been under pressure lately and the latest tariff measures are unlikely to bring much relief, economists said in a report. Indicators such as price components in the Purchasing Managers Index show that commodity prices have risen strongly again. Mexico and Canada accounted for 28% of U.S. goods imports in 2024, while China accounted for 13.4%, which means that 41.5% of U.S. imports are affected by a significant increase in tariffs. They added: This will have an impact on prices. (Jin Shi)