President Donald Trump on Friday threatened to slap a "massive increase of Tariffs" on Chinese products imported into the United States to "financially counter" new export controls that China imposed on rare earths from that country. Trump also threatened in a social media post to cancel his upcoming meeting with Chinese President Xi Jinping because of the dispute. Stock markets dropped after Trump's bellicose Truth Social post about China, in which he said that "there is no way that" country "should be allowed to hold the World captive'" with its rare earth policy.
US inflation rises in August as firms pass Trump tariffs cost on to consumers
www.theguardian.com
... Inflation rose slightly in August as companies continued to push the cost of tariffs on to consumers.
The newest update to the consumer price index (CPI), which measures a basket of goods and services, showed that prices increased 2.9% over the last year -- the highest since January. Core CPI, which excludes energy and food costs, stayed stable at 3.1% after going up in July. ...
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