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Former President Donald Trump’s proposed 10% tariff increase on all imported goods is causing concerns in the market, with experts warning that it would have a significant impact on various asset classes. Treasury Secretary Janet Yellen has acknowledged that tariffs can be appropriate in some cases but also noted that they would raise the cost of goods and trigger retaliatory tax increases. Critics argue that such a tariff would effectively raise taxes on US consumers by over $300 billion annually and result in a decrease in GDP and US welfare. There are also concerns about Trump’s unpredictable approach to geopolitical issues.

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