The war with Iran, renewed trade tensions, and mountingfederal debt have increased pressure on the US economy ahead of the midtermelections, complicating President Donald Trump’s promises to lower living costsand rein in government spending, the NewYork Times (NYT)reported on Saturday.
NYT saidTrump’s renewed tariff offensive against Canada could add further pressure onconsumers, with the Yale Budget Lab estimating that the latest duties couldcost the average US household about $1,100 annually. Economists cited by thereport said tariffs, war, and other policy-driven shocks have kept inflationhigher than previously expected, despite continued economic growth, strongermanufacturing, a steady labor market, and rising investment in artificialintelligence.
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