内容摘要：The banker on April 9 was interviewed on Fox Business Network’s “Mornings with Maria” as financial markets were panicking because of Trump’s tariffs. Dimon said markets would improve if Trump could negotiate trade agreements.

The banker on April 9 was interviewed on Fox Business Network’s “Mornings with Maria” as financial markets were panicking because of Trump’s tariffs. Dimon said markets would improve if Trump could negotiate trade agreements.

People shop at a party supply store in the Toy District of Los Angeles on April 9, 2025, where the majority of items are imported from China. (AP Photo/Jae C. Hong, File)People shop at a party supply store in the Toy District of Los Angeles on April 9, 2025, where the majority of items are imported from China. (AP Photo/Jae C. Hong, File)

But even with the lower levies on China, the Yale Budget Lab reported that the cost of Trump’s trade war will be high. Climbing prices will reduce the purchasing power of the average household by $2,800. Shoe prices will rise 15% and clothing 14%. The tariffs will shave 0.7 percentage points off U.S. economic growth this year and increase the unemployment rate — now a low 4.2% — by nearly 0.4 percentage points.. He’s also imposed 25% duties on cars, aluminum, steel, and many imports from Canada and Mexico.The Yale Budget Lab estimates that Trump policies will push the average U.S. tariff rate to 17.8%, highest since 1934 and up from around 2.5% when Trump took office. (Other economists put his tariff rate at 14% to 15%.) During Trump’s first term, the average tariff rose just 1 percentage point despite all the headlines generated by trade policies. Now, according to the budget lab, they are rising 15 percentage points.

And the tariffs have only begun to bite. In April, the import tax revenues collected by U.S. Customs and Border Protection came to a tariff rate of just 4.5%, a fraction of what’s coming, Tedeschi said. That’s partly because of delays in rolling out the tariffs, including technical glitches that prevented customs agents from collecting them for a couple of weeks.The full impact has also been delayed because companies beat the clock by bringing in foreign goods before Trump’s tariffs took effect. Retailers and importers had also

of shoes, clothes, toys, and other items due to new tariffs, but many

Tedeschi, who was chief economist at President Joe Biden’s Council of Economic Advisers, also notes that it just takes time for tariffs to translate into higher prices. During Trump’s first term, his January 2018 levies on foreign washing machines didn’t yield more expensive appliances until April that year. Still, a Federal Reserve study this month found that duties Trump imposed in 2018 and 2019 meant higher prices as soon as two months later, suggesting consumers could start paying more in June.Allegheny County officials confirmed that a 67-year-old man was killed by a fallen tree at a home in Ross Township, just outside Pittsburgh.

The National Weather Service’s Pittsburgh office said destructive wind damage was seen across its region. Straight-line winds gusted over 80 mph to 90 mph (129 kph to 145 kph), which is stronger than many EF0 and EF1 tornadoes typically seen in the area, the weather service office said in a social media post.The line of thunderstorms that swept across Pennsylvania on Tuesday night formed what’s called a “bow echo,” or a bow-shaped line of incredibly strong winds that are strongest at the apex of the curve, according to weather service meteorologist John Bowen in State College. Damage was most severe where the apex passed, he said.

Pittsburgh International Airport recorded its third-highest wind gust in modern history at 71 mph (114 kph), according to Liana Lupo, a meteorologist with the weather service’s Pittsburgh office. A team investigated wind damage in Wilkinsburg, just outside Pittsburgh, but could not conclusively say a tornado had touched down, Lupo said.Levy reported from Harrisburg, Pennsylvania. Associated Press writers Jamie Stengle in Dallas and Sarah Brumfield in Cockeysville, Maryland, contributed.