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Congress has power over tariffs, but stopping Trump isn't likely as of now

1. Trump imposed a global 10% tariff, impacting multiple countries. 2. Stock markets fell sharply amidst rising recession fears. 3. Congress shows bipartisan attempts to challenge Trump's tariffs. 4. Legal challenges may arise against Trump's tariff authority. 5. Long-term economic uncertainty persists due to these tariff measures.

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FAQ

Why Very Bearish?

Tariffs generally lead to increased costs and reduced economic activity, echoing historical downturns such as the Great Depression.

How important is it?

The article discusses immediate tariff implementations which have historically led to market volatility and downturns.

Why Long Term?

The long-term effects could destabilize global trade, affecting corporate earnings and investor sentiment, similar to previous protectionist periods.

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