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Trump’s tariffs and deportations may stoke a crisis worse than recession
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Mr Trump’s tariffs could drive up the cost of goods, while slowing down trade-related growth, especially if trade partners retaliate.
PHOTO: REUTERS
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WASHINGTON – The US economy under President Donald Trump could be heading for a rare and scary phenomenon: stagflation.
Last witnessed in the US in the 1970s after the oil crises of 1973 and 1979, stagflation is caused by a combination of high inflation, slow economic growth and a rapid rise in unemployment.
