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Trump's Tariffs Spark Trade War Amid US GDP Decline

7/10/2025

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Trump's Tariff Impact

Trade tensions are heating up as President Trump imposes steep tariffs, hitting Brazil with a staggering 50%. Meanwhile, Australian lobby groups are rallying against drug approval processes, calling for action against what they see as unfair practices. As these disputes unfold, the US economy faces a troubling contraction, with GDP dipping 0.5% in the first quarter.

Center

Trump's Tariff Threat

President Trump's bold plan to impose tariffs as high as 200% on pharmaceuticals and semiconductors raises alarms for the Irish economy, which depends on pharma exports to the US. As the EU grapples with trade negotiations, US drugmakers warn that these tariffs could lead to shortages and soaring prices for consumers.

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Trump's Tariff Impact

Trade tensions are heating up as President Trump imposes steep tariffs, hitting Brazil with a staggering 50%. Meanwhile, Australian lobby groups are rallying against drug approval processes, calling for action against what they see as unfair practices. As these disputes unfold, the US economy faces a troubling contraction, with GDP dipping 0.5% in the first quarter.

1 / 2