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 Trump tariffs to push down U.S. growth 'a great deal' going into 2026, Morgan Stanley warns
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Morgan Stanley's chief global economist Seth Carpenter warns that Donald Trump's proposed tariffs will significantly reduce U.S. economic growth into 2026; Trump plans a blanket tariff of 10% to 20% on all imports and 60% to 100% on Chinese goods; Carpenter indicates that if tariffs are enacted all at once, it could cause a 'big negative shock' to the economy; He predicts higher inflation and a decline in growth due to these tariffs and other policies; Mark Malek from Siebert highlights that sectors like automotive and consumer electronics will face increased costs; Current U.S. consumer price index rose 2.6% in October 2024; Potential tariffs could eliminate interest rate cuts for 2025.

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https://www.cnbc.com/2024/11/20/trump-tariffs-to-push-down-us-growth-going-into-2026-morgan-stanley.html