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Trump’s tariffs have done ‘significant damage’ to US economy, top financial group warns

The Independent·Brendan Rascius·27 days ago
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Over a year has passed since President Donald Trump’s “ Liberation Day, ” when he rolled out a sweeping tariff regime , imposing steep duties on most foreign imports and fundamentally reshaping U.S. trade policy. Now, the numbers speak for themselves, and they're deeply troubling, according to Mark Zandi, chief economist at Moody’s Analytics , an arm of the long‑established global risk‑assessment group. “We have a year’s worth of economic data since Liberation Day,” Zandi wrote Monday. “The data are definitive; the tariffs have done significant damage to the economy.” The leading economist highlighted figures on inflation and employment growth , both of which have been exacerbated by the ongoing Iran war . U.S. Employment: “Job growth has come to a standstill, with only the non-traded healthcare industry adding meaningfully to payrolls,” Zandi wrote, referring to the 693,000 domestic health care jobs added last year — without which there would have been a net hiring loss.…

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