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View all search resultsThe US Federal Reserve's preferred inflation measure cooled more than expected last month, according to government data published Friday, as President Donald Trump's "liberation day" tariffs on most countries came into effect.
The United States lost its last triple-A credit rating from a major agency Friday as Moody's announced a downgrade, citing rising levels of government debt and dealing a blow to Donald Trump's narrative of economic strength and prosperity.
In a stunning reversal, US President Donald Trump said on Wednesday he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending US stocks rocketing higher.
President Prabowo Subianto has ordered the government to extensively cut back business regulations, including local content requirements and import restrictions, a day before the United States is set to slap steep import tariffs on Indonesian goods.
Redistributive taxation, while it is not easy to craft or implement, can encourage innovation and the equitable distribution of growth benefits, whereas Trump's tariffs will only undermine the US' competitive edge and do harm.
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