economists think is fallacious, that he belief, i think most economists thir raise fallacious, thats thir rai there are so manyie tariffs. there are so many reasons, _ tariffs. there are so many reasons, domestic and in terms america's partnerships, and of america's partnerships, and note, _ of america's partnerships, and note, many these tariffs are note, many of these tariffs are - used _ note, many of these tariffs are used against of being used against many of america's very closest partners america'svery closestattnelt i allies, which america'svery closest partners allies, which is and allies, which is very to and allies, which is very. - to - least and allies, which is very- - to i least. but unusual, to say the least. but whether— unusual, to say the least. but whether he is using them to whether he is usin- the u - whether he is usin themjo fig bargain or not is oartl’g ”firms” but even if e bargain or not is oartl’g ”firms” but even if unknown, but even if he is, it is - hot— unknown, but even if he is, it is - hot- that- is just not clear that this wiii— is just not clear t

are about the impact on broadly. most economists are and out the impact on broadly. most economists areay inflation and growth. that may not be — inflation and growth. that may not be insignificant in the 7-e7 7 united states. it is a large continental economy. but most studies would suggest that these _ studies would suggest that these things bound up with studies would suggest that ti whole ings bound up with studies would suggest that ti whole load bound up with studies would suggest that ti whole load of bound up with studies would suggest that ti whole load of other d up with studies would suggest that ti whole load of other economic a whole load of other economic variables — a whole load of other economic variables. there will some a whole load of other economic variables. negative some a whole load of other economic variables. negative somjust immediate negative impact. at immediate negative impact. - at _ for i looking at countries, for example, china, and say they are going say theyare going to canada say they are going to retaliate. about other retatiategwhet about other like

you know what the economist described, you know what the economist described your relationship with russia as a faustian pact between mr modi and president putin. i believe president putin is invited to come to delhi very soon, isn't he? well, i think the quad leaders will be coming here very soon. and let me also tell you... i'm talking about russia. from the invasion of ukraine by putin's forces in february of 2022. i guess these are connected, aren't they? hop, step and jump. we were told to buy russian oil because if we hadn't bought russian oil and we had started buying our quantities of 5 million barrels a day, which we were buying, bought from the middle east. you've made the point. no. the price would have gone up to $200 a barrel. i'm now into geopolitics. it's interesting. indian foreign service. you understand the way geopolitics works. is it wise, do you believe, for india to have forged majority vote. russia violated ukraine's sovereignty in this invasion, the place it is now in? as i said, a limited understanding of the situation, india is in a comfortable position all over.

i ::::si comes at a time when lots of polii economists i could if comes at a time when lots of poliie when lots of po inflation. ists i could push comes at a time when lots of po inflation. ists i cou beiush [ma mm donald taiwan tariffs have huge around the world. repercussions around the world. they adding rocket fuel to they are adding rocket'fuel to plans around in treasuries the plans around in treasuries around the world.— the plans around in treasuries around the world. bond markets have been _ around the world. bond markets have been having _ around the world. bond markets have been having an _ around the world. bond markets have been having an interesting| have been having an interesting time. to see how government inflationary some government policies will be. tariffs are the ones that are —:: —:7 7 w 7 at? ”wriitiwill looking at. whether it will to higher prices. they need to higher prices. they at policies in totality. look at policies in totality. tariffs, ' fiscal ' regulation, fiscal policy, based on that they react based on that they will react they need to. that feeds

many economists say that the measures will increase inflation in the us. for example, the average american car price could increased by around $3000.00 to move good costs, the average american household up to $1200.00 in annual purchasing power up. they're also phase, the tenants could throw canada and mexico into recession. with some experts say that trump's sweeping tariff threatened to fracture the global trading system of the world economic order. but that could end up in beijing say about felipe. the ground is a political economist and cindy, a visiting fellow at the london school of economics, european institution, he joins us now from london. good senior philip. so who blinked 1st. canada and mexico or the us was the threat. genuine was the whole thing. po, theater. that's a good question and i think we've obviously the 1st act of what's going to be alone, unavailable play. i mean, clearly kind of the mexico initial type of advantage to give trump enough for him to retract his tar so you can say that a trumpeting fast. but i think the trump is going

wr—wss importers will then pass the ont economists think his importers will then pass the ont economistsers will then pass the will, and omists think that importers will then pass the will, and in “lists think that importers will then pass the will, and in past think that? importers will then pass the will, and in past trade that?— they will, and in past trade have that as was you have seen that as it's you bring the interesting you bring up the word there, trade �*do . do you idoyou-it . do you - it will likely do you think it will be we do see tit—for—tat likely do you think it will be we do retaliatoryt—for—tat measures, retaliatory tariffs? course, i it depends the 7 77country, and on the individual country, and of their strategy, or gigourse theirstrategy; or think there is the you think there is the that potential here that donald trump uses this as trump uses this'ssrs" r tactic and is able extra ct extract concessions? extrct concessions to extract concessions? well, all of the _ to extract concessions? well, all of the countries, - to extract concessions? well, all of the countr

as trump argues, today we're talking with economists. joseph canyon senior fellow at the peterson institute for international economics and former official app and u. s. federal reserve board. joseph, thank you so much for joining us today. let me just start. i want to play a clip for you off present. donald trump, addison argue ration, and some thoughts that he had on chatsworth listen. instead of taxing our citizens to enrich other countries. we will tariff and tax foreign countries to enrich our citizens. for this purpose, we are establishing the external revenue service to collect all terrace duties and revenues that will be massive amounts of money pouring into our treasury. a joseph is a lot to one pack. they are the external revenue service, a new agency of government, as he's getting rid of other agencies. and i think the biggest thing in terms of the way he talks about terror thing, other countries are turning tariffs into a verb. but how is going to yield so much revenue for americans from these other countries? can you unpack

you know, it's a famous thing that economists disagree about. just about everything, just about all economists agree that raising tariffs to the highest level they've been at for the united states on an across the board basis since just after the second world war, that that's a mistake as a proposition that, i guess 95% of economists agree with. and it takes a lot to unite the economics profession. >> and we can tell everyone. now, just while you were talking there, trump has announced those new tariffs are in place. so this has happened again, 25% on mexico and canada, 10% tariff, 10% additional tariff on china. they say for illegal fentanyl, they have sourced and allowed to distribute into our country, which has killed tens of millions of americans. um, larry, help us understand. there's now not only the threat of rising prices for americans, but in terms of global. a trade war. is this kind of the starting shot? where what does that look like to you it's before you get to what anybody else does. >> there's higher prices for american consumers

the other thing that economists have been telling us is that the mexican will probably follow a legal path because as we know, there is a trade agreement in place us m. c, a, between mexico, the us and canada. and these general terms that donald trump has said he will impose our a breach of an international treaty essentially. and while it may not make any difference in terms of the immediate impact of these terrace. uh, you know, economists say it is important for mexico to leave a legal precedent that you know, it's essentially illegal to do this to one of your main trading partners. bring yourself today from michigan city. that's julia gaudy. ah, no, thank you as well. in china, business owners are pricing for the impacts of 10 percent types and goods exposure to the u. s. president donald trump says he's trying to pressure beijing, is it helping fight america's opioid crisis and boost its domestic manufacturing? just as jessica washington reports fundraising afternoon in beaching, tourists from around china has come to see the historical moods surrounding the imperial palace compl

cheryl: our economists between us here mr. john lonski. john: nice seek you.ng about jobs' report. john: i am feeling a little bit upbeat we've got a lot of positive soundings on jobs, from -- ism, pmi adp i wouldn't be surprised if the increase in payroll beats that 170,000 consensus estimate i don't think jobs' report is weak enough to increase the likelihood of a fed rate hike, prior to the month of june. cheryl: are a okay charles. >> ultimate coin flip the game, so ridiculous considering the -- the extent of revisions, you know two things bother me with this number, is that, the fed is date dependent decisions made on faulty date wall street, no matter what number is there is a possibility could be an extreme revision down the line, i am not sure i am not as sanguine as john is i don't think a firing crisis i think having a hiring citations going to push u3 number higher the u3 number has, et cetera, faults in the sense if one drops out of labor force not koutd millions unemployed in this economy wall street going to say things are great that is what they

. >>> economists are anticipating the january jobs report out later today. donuts new leisurewear is for sale. carissa lawson has that and more in your "moneywatch." >>> mixed movements thursday as investors wait for the latest jobs report due out later this morning. the dow jumped 129 points, the nasdaq gained 99, and the s&p 500 picked up 22. >>> when the bureau of labor statistics releases its january jobs report this morning economists expect it to show that hiring slowed down but the unemployment rate held steady to start 2025. the current rate is 4.1%. amidst the tariff jitters economists think the report will send a signal of a healthy economy so far this year. >>> lg is recalling 500,000 electric ranges after some caused dozens of fires that have burned people, pets, and poperty. the recall involves slide in and freestanding ranges with front mounted knobs that could be turned on accidently. instead of refunds, lg is sending customers warning labels with instructions for the knobs. >>> time to get game ready and suited up for the new dun kings meal d

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it's interesting. of the economist magazine. relationship and president putin.elieve president putin is invited to come to delhi very soon, isn't he? we buy $20 billion of energy from the united states. i'm talking about russia. india has refused to condemn that invasion. hop, step and jump. you've made the point. no. the price would have gone up to $200 a barrel. and who would have? than you currently have. i'm now into geopolitics. it's interesting. you're a former very senior diplomat in the indian foreign service. is it wise, do you believe, for india to have russia violated ukraine's sovereignty in this invasion, something which india will not say and will not recognise. is it wise for india to have got itself into my prime minister has had a discussion but you believe european. you believe in international law, don't you? i've written a book on the use of force, and i think western europe is hardly in a position to tell let me tell you, we have condemned the use of violence. my prime minister has been on record from day one to say this is not the time of w

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we are joined by janet henry, global chief economist at hsbc.basis point cut i assume is what you were expecting today. how with the market react if we had a debit surprise, say catherine mann voting for a cut or another does voting for a 50 basis point move? >> absolutely that is the risk. i do not think anyone is expecting in -- anything other than a 25 basis when cut. catherine mann, it would be interesting if it was complete consensus if she voted for a cut, because she has someone that is indicated eventually a time may come for more aggressive cuts to occur. there is a risk of one person voting for a 50 basis point cut, so we have seen some shift in market expectations pricing in more foreign 2025 -- more for 2025 in terms of red cuts. that is where the balance of rest are tilted despite inflation moving on the wrong direction in their projections for the near term. lizzy: you hint at that rapid deterioration in the labor market. i wonder how much chance you see of a march cut. >> at the moment we think that is quite low. it seems to be th

nearly all economists we have talked to believe there will be a cut in interest rates e the lowest point to the lowest point for the uk over 18 months. they 9:3 11” 3—5! “3“ 1° "mm" “3 ~ ~ borrowing 1113 11" 3-151 “3“ 1° nmn�*h' “3 ~ ~ borrowing will 111311” 3n:1 33“ 1° nmn�*h' “3 ~ ~ borrowing will be sggbogowino 53313 31111 133 by sggbggowing 53313 31111 133 by 0.25%, is 551.1 115111131135 53515 31111 133 by 0.25%, is the feq’jolgle eh? production. this would be the third cut in interest rates thin! 331m in13r351r5135~ 1 3 1 the thin! 331m in13r3511r513511 1 11 1 the peak of 5.25% in since the peak of 5.25% in august 2023 and at a august 2023 and it comes at a difficult time for the uk economy. it is facing 3oonomyit'i3f33ing " when the economy is stagflation when the economy is stagnant, hardly any great, but the same time inflation is at the same time inflation is stubborn, presenting a real challenge for the monetary policymakers. inflation is going on the right direction for now, it fell to 2.5% the , to , ' todecemberflm ' ' to decemberrand ' 7 to decemberrand 7 is the bank of enla

trail in what he hopes to this — but achieve through this — but”, ,, also the risks being from economistsare we mind, what reaction are we to this? �* , seeing to thie?r~ , , , from canada, mexico saying fétél'ét'f�*fi “e�*h�* eéfiéfi'éi�*é�*éfl'fi saying they will and china, saying they will with tariffs themselves — and this is something we saw in his first demonstration. remember, this demonstratioir. remember,—this not new to the trump btaybeeb—t— this is somethr�*g done — for example, he's done before — for example, canada has said they will put on tariffs american on tariffs on to american goods — and been specific — for — and been very specific — for example, saying things like 'uice florida orange juice or kentucky butter, florida orangejuice or kentucky butter, or kentucky peanut butter, or particularly alcohols imported kentucky peanut butter, or parti america. >hols imported kentucky peanut butter, or parti america. the; imported kentucky peanut butter, or parti america. the hopes rted kentucky peanut butter, or parti america. the hopes of d kentucky peanut butter, or parti america.

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as part of a crank download on documented work has some economists say the disruption to the labor force will have serious consequences for all americans rentals reports from taxed in california. a seer stalks the orange groves of california is central valley residents, social media, postings, show reset rates and highway stops white immigration agents. scores of on documented people have been detained. people are disappearing. terrified. that's not something that was happening. you know, 3 or 4 or 5 months ago, this is something that is happening at a intensified rate right now. that the only thing larry immigrants rights advocates have formed a crisis response team with members getting hundreds of calls from anxious migrant farm workers every day in life on the handout cards printed in english and spanish, detailing people's constitutional rights not to open their doors. the agents without a warrant and not to speak without an attorney. many undocumented farm workers are not showing up for work. see left but it's on us. but yes, people literally prefer to stay at home. they have to sto

economists typically consider trade wars a lose lose. so both parties end up losing.ne of the important features of trade is that because of different comparative advantages, countries might be able to do one thing better than another country if they engage in trade, that's actually a win win. so whenever you reverse that, it's actually incomes are lower, prices are potentially higher. people are getting less of the goods that they want that aren't easily made in a particular country. so trade wars generally should be avoided because we know it has these negative effects for everybody involved. >> all right. i want to talk about the stock market, which of course all the indices fell today, and global markets as well. for the average investor, building a nest egg for retirement, what should they do? a lot of people are panic like should they sell. should they invest overseas. what do you suggest? >> yeah. so one do not sell. generally this is a long term proposition. and the stock market you know as we saw today went down. and then it came back up. so you really should

why the non in economist and former jordanian foreign minister and in washington dc is matthew josh, the executive vice president at the center of international policy and a specialist on us and literally 6 years a very well and welcome to all of you. not to let me start with you in washington dc. why does donald trump want the us to take over casa? and how serious do you think he is? i mean, that's always the question of how serious he is. sometimes he has these flights of fancy, he picks up ideas from various sources. i think this particular idea of the us moving the palestinians out expelling them. let's use that term. that's in fact what it is and re developing gaza, apparently originated with jared cushion or his son in law. almost a year ago at a speaker series at harvard university, which was reported at the time seen as outland extends. but unfortunately, very much in keeping with the way that donald trump sees pretty much everything as a money making opportunity. but having said that, we absolutely should not down player dismissed the gravity of what trump propose yesterday

and the other thing that mexican economists have told us is, and that, that is important to remember that mexico will have legal resources to go after the us for breaking the straight agreement. because applying blanket, general tire of stew, old mexican products goes directly against the free trade agreement with agreement was by the way, it was negotiated by the trump administration in 2020. and which at the time he said we is a very good agreement. so yeah, to summit up everything i've just said, essentially we're waiting to see what the mexican reaction will be. but we know from what we have been told already that it will be also uh, tire of imposed on us products. me talking to is from mexico city. that's julia. it's all you all know julia, thanks for bringing this up to date. and i thank you as well in china business owners on pricing for the impact of 10 percent out of some goods exported to the us president. donald trump says he's trying to pressure basing into helping fight america's opi or crisis and boost it's domestic manufacturing. obviously it is jessica washington repo

broadly, most economists are concerned about the impact on inflation and growth.y not be insignificant in the united states. it is a large continental economy. but most studies would suggest that these things are bound up with a whole load of other economic variables. there will be some immediate negative impact. just looking at countries, for example, china, mexico and canada say they are going to retaliate. what about other countries like the uk and others watching around the world? what is the potential impact elsewhere? virtually everyone has been put on notice. president trump said last week that the is giving them till april to look at economic relationships and trade relationships. i don't think any country can be complacent about this. some countries, like the uk has balanced trade with you united states. australia has a trading deficit with the united states. that means we are perhaps well—placed. but i don't think anyone could be complacent. there's also the knock—on effects, if we get into a return of the trade war, that clearly has impacts on local gro

is that how economists. that's how trump is saying it. is that how economists see this. how does the fed see this? >> um, no. in fact, it's diametrically opposite to what an economist would say. economists would say that tariffs are going to be inflationary. again, you can you can argue for them. there are some reasons why you might want tariffs, but they are going to be inflationary in the short term very likely. and so that means that the fed would be looking to keep rates where they are, not to add more fuel to the economy by lowering them. now, the president would like them to be lowered because he wants to offset any kind of inflationary impact from those tariffs. so he can say to the american people, look, there's not going to be pain here for you. we'll keep the easy money going. we'll keep loans low and everything is going to be fine. but ultimately that's that's not how the fed works. they're going to be looking at data and, you know, barring barring anything dramatic. i do not think that jerome powell is going to change directions here. >> so national economic

as a result it's possible, it's possible it may, i know there are a lot of economists trying to crunch the numbers. and a lot of this is just, you know, we've never had to think about where the goods come from. as i said so much with them across the board are several times over. so, you know, it's, it's requiring every company from the small, you know, business to the very large one, have to do a full inventory on what crosses the border. and again, we're not custom to that, it really is a very difficult time, and i hate to bring this up, but it does feel like this is not about fentanyl. and it's more than just industrial policy. but, you know, his constant talking about the annexation of canada is really getting to canadians . i mean, there's nothing more nationalistic than trying to suggest that somehow the 2 of us should merge. that's not the canadian culture, it's not the canadian interest. and frankly, he's making a lot of enemies out of average canadians by keep talking about that. talk a trump on his supports us. i might say look, this is what he promised to. now he's simply del

and former white house economist for the national economic council and what's the name of your current bank? >> snbc bank and ecosecurities. larry: there we go. went right by me on the prompt terrific and had to ask for help. >> this is all star cast. larry: unbelievable. >> doesn't get any better than this. larry: john carney, i think mr. trump was absolutely serious and ready to pull the trigger boom boom boom. no question about that. but one of the implications to me is going back to one of the original thoughts which is, okay, we'll tax you because you're taxing us, but we're going to take that money and give it back to corporations, small business, families in the form of tax cuts. i'm just saying let's not forget the tax cut lesson that's a part of the tariff lesson. donald trump showing he's not bluffing and this was not a bluff and this was donald trump saying that the tariffs are coming on mexico stepping up and giving us time and working this out and trump said going to make it going to be happy with it. haven't heard about canada and may get a demonstration that donald trump

the economist albert herschman and i'll read the beginning.vity always comes as a surprise to us. therefore we can never count on it and we dare not believe in it until it has happened." explain why you picked that quote, why that's important to you in your process. >> is anyone who has read any albert herschman knows he's one of the great figures of the 20th century. he's just a brilliant economist. he was deeply attracted to the mystery of the creative process. and the idea that if we try to explain and predict our own behavior we will invariably be wrong. and i love that. i love the acknowledgment that when i started out on a project i have no idea where i'm going to end up and that's why i start out on the project, that's the fun. >> john: if you know where you're going, you're off-base. >> also it's boring. >> john: malcolm gladwell, always a pleasure. thank you. there's more to come on "cbs evening news plus" including this story. >> this is kind of the final frontier for autonomous ride hailing service waymo. i'm talking about the freew

i'm an economist and most economists believe in the benefits of trade.benefit when they freely trade with each other. stick around. we will see how this turns out. right now i think it is a shot across the bow. sumi: if he goes forward with such tariffs, last term there were carveouts for trading partners like canada and mexico. would there be the appetite for that kind of exception this time around? steve: i do because the country we are most concerned about in the u.s. is china. china is an adversary, an enemy, a dangerous country. we view china as a real threat, not just a prosperity, but world peace. i think it makes a lot of sense and trump would generally agree we treat china in a different category from a country like canada or mexico. it is important that mexico remains as prosperous as possible and canada as well. we do have a special trading relationship with canada, mexico through our north american free-trade agreement. sumi: some critics would say trump has spent more time talking about trade imbalances with canada and mexico than china. ste

a move that economists warn will raise prices for americans.sident trump throwing the first punch in a fight with america's largest trading partners. imports from canada and mexico will be hit with a tariff of 25%. imports from china 10%. the president says the tariffs are a reaction to illegal migration, illicit fentanyl, and trade deficits. >> number one is the people that are pouring into our country so horribly and so much. number two are the drugs, fentanyl and everything else. >> reporter: government data shows over 21,000 pounds of illicit fentanyl was seized at the u.s. southern border during fiscal year 2024. but only 43 pounds of the drug was seizes at the canadian border. canadian prime minister justin trudeau said the country is at a critical moment. >> we're ready with a response. a purposeful, forceful, but reasonable, immediate response. >> reporter: nearly 30% of all imports to the u.s. come from canada and mexico. experts say prepare for sticker shock on everything from mexican tequila and aftervocados to cann lumber. >> it's a

moody's economist mark zandi, he told me he said soak it in. this is a brief, shining moment where the labor market is exactly where you want it to be. boris. >> matt, to your point about wage growth helping to alleviate some of the concern caused by inflation, there's this new survey from michigan university, from the university of michigan. i should say, that shows that americans are a lot more concerned about inflation going into 2025. >> that's right. and there's a number of reasons why that could be. what's interesting is the university of michigan really pins this on one thing and that is tariffs and concerns that tariffs are going to increase prices. so the big number from this report is 4.3%. that's how much consumers on average expect the prices will increase over the next 12 months. that is a very big increase from what people were expecting just a month ago. in fact, the university of michigan said that this is one of the biggest increases month to month that they've ever seen for this metric. and they said that a lot of consumers ar

we turn to nobel prize winning economist paul krugman.ack newsletter paul krugman, and is known for much of his economic work and writing over the last several decades. he's also, we should mention, written textbooks about international trade, international trade theory, and policy. with all due respect, professor, we don't see that cover on the news every night, but it's certainly in the news. welcome back. >> hi, there. >> hi. explain to us why this is happening, why these tariffs as a proposal seem to have run into a lot of headwinds. was that obvious? was that going to be understandable? and where do we go from here? >> well, it was. >> obviously going. >> to. go run into a lot. >> of problems. i mean, first thing to say. >> is, i mean, i'm not a lawyer. but the tariffs look. >> illegal to me. >> i mean, they. they trump. >> invoked a emergency economic powers. and you know, we don't have an economic emergency. we have low. unemployment and low inflation. >> what what's. >> what's this about. and it's. >> also supposed. >> to be used

. >> economists broadly agree these tariffs could mean higher prices for americans on everyday items,e the ones you see here clothing, food, alcohol, sneakers, toys and those higher prices could add up to more than $2,600 a year, according to some economists. president trump himself, acknowledging that economic reality for the first time, writing on truth, social quote will there be some pain? yes, maybe. and maybe not. but we will make america great again and it will all be worth the price that must be paid. cnn's alayna treene joining us now with more details. elena. the president full speed ahead on one of his biggest campaign promises, which was to use tariffs. >> that's exactly right. and we are expecting these to go into effect on tuesday morning. specifically. 12:01 a.m. now, there's a couple things i want to point out here. one is what you mentioned, jessica, which is of course, we are hearing the president directly acknowledging what many economists, lawmakers on capitol hill, even some of donald trump's own advisors. i would note in a previous life not currently acknowledgin

economists are writing about depression. people at the fed that went through the global financial crisis 10 years before step forward and say, we've got this. we know what to do. here is what we do with the treasury market. here is what we do with money market funds. here is what we do with companies that can't get any financing for the markets were closed. companies were having maturing debt they had to rollover. the people that knew what to do in that pretty dire emergency were working at the federal reserve and other places. i will tell you. it was impressive. if you could have seen the way people react, how hard they work, how much they know, how well it worked, our work during the acute phase of the crisis was very successful. that is entirely due to the knowledge base that resides with the career people at the fed. sen. kim: would you say the fed is overstaffed? chair powell: overworked, maybe, but not overstaffed. everybody at the fed works really hard. sen. kim: and there is a lot of conversation about staffing numbe

you do not sound but you do not sound perturbed but economists 7 spoken to are economists i have spokenhis mean. many that could mean. many saying that the tariffs are in place could mean. many saying that will tariffs are in place could mean. many saying that will be iffs are in place could mean. many saying that will be there 3 in place could mean. many saying that will be there some ace could mean. many saying that will be there some time. they will be there some time. the people you have spoken to z fizz right. the keyword, are right. the keyword, once the tariffs are in place they the teriffs ere inplece they a the teriffs ere inpleee they a lot the teriffs ere inpteee they a lot of damage. there is a de e tetetdentege. there is e supply chains that de e iebflidemage there is e supply chains that be 2:77— 7 7 of this of this and key un-a�*laa ka�*a...a a! bk!» ana la” meshed gees-see tn we end he, of un-a�*laa ka�*a...a at me:— nna la” meeeee eeeeeee e! slurs eue rte, of low ggoéé—border shipments of low products that will be value products that will be heavily disrupted but the key

only added 143,000 jobs last month, fewer than economists predicted.t's also less jobs added compared to nomber and december. health care pulled the weight, adding 44,000 jobs last month. retail industry close behind. despite the low numbers, unemployment ticked down to 4%, and economists say this means that the federal reserve will likely hold off on cutting interest rates until at least june. major indexes ended the week in negative territory, which investors credit to worries over tariffs and the jobs report. the dow jones fell 4444. nasdaq slipped two. 68. s&p dropped 57. some notable gains, though. frontier airlines surged 17% and pinterest rose 20%. consumers, it seems, are worried about inflation. they're thinking it will rise under president trump. that's the discovery. that's the discovery in a new survey. the survey was conducted by the university of michigan. participants say they expect the inflation rate to be at least a percentage point higher by this time next year, according to the survey. the concern comes from president trump's aggres

fields are on documented and the numbers are roughly the same in jobs like meat packing and dairy economists say mass deportations mean labor shortages, it would devastate the agricultural economy in the united states economists predict a steep rise in the cost of everything from vegetables to meet and mill grocery stores, past nearly all the costs onto their consumers. and so shoppers would see another belt of food inflation. and you're talking about food inflation of 5 or 6 percent annually. and so you're looking at considerable economic impacts that would be considered a recession. americans who voted for donald trump, hoping he'd bring down the price of groceries could soon be in for a big shock. rob reynolds, l g, 0, taff, california. a demonstration is inside the have nots. 3 months. incidentally, we've collapsed that a train station tracked as blocks, roads, and nobody sad surrounded by hundreds of 1st testers who comes out of the night. in november 15, people were killed when a roof collapse of the local train station for just as a cooling to the president, alexander, which on his go

economists say it appears inflation is here to stay.gely because we keep shopping even though those prices are rising. but that doesn't mean we are not feeling the pain. but if you're an employed worker, you're still gradually getting pay increases. you don't necessarily like the prices that you're seeing every day on the grocery store shelves, but you at least have a paycheck that can help you sustain some of that spending. economists say consumers are holding back on big ticket items like homes and cars. if the current rates of inflation stay as high as they are. they expect that trend to continue. okay, countdown is on the milan-cortina winter olympics, now officially one year away. check out some of the beautiful backdrops of areas that are going to be hosting events all across eight cities in italy. now, the bulk of the events will be in either milan or cortina. milan will host a lot of those indoor events like figure skating, speed skating, hockey. city's already getting into the olympic spirit. there is a countdown clock curling

trump has announced a number of tariffs, which economists say could push prices even higher, includingariffs on steel and aluminum. that could mean more money for things like cars and appliances. reena roy, abc news, new york. >> and that's going to do it for now. thank you for joining us. world news tonight with david muir starts now. we'll see you back here at four. >>> tonight, breaking news as we come on. this major storm hitting right now. treacherous driving and now tornado watches up. snow and rain about to hit the northeast. 125 million americans on alert for this second winter storm, and a third storm now right

heron lim is an economist at moody's analytics we have a bit �*a that.nt in extreme climate and also attracting skiing resorts. in southern china as well. where there's a lot of attraction of these vouchers and on tourism for these consumers to take part in. those look like the ways that china is looking to attract at least the domestic audience. are they actually looking beyond china's borders? i believe they'll have to look at beyond china's borders to really seek that growth. traditionally, everything about winter sports in asia, 0ur our apologies �*the audio that clip at the start there. secretary of state marco us secretary of state marco rubio says is absurd that us rubie seys it is'ebserd thet u5 pay to go through vessels pay to gothrobgh the canal. the canal re'ected the claim. authority rejected the claim. the us makes up a significant of traffic through canal. thank e canal. thank you e canal. thank you for e canal. thank you for your cana| today. you for your ca na| today. sportsday ur ca na| today. sportsday is cana| today. sportsday is up co

. >> reporter: but most any importer or economist will tell you the president is mistaken.eign country. the tax is paid by the importer in the united states. for example, walmart imports goods from china. and when those goods cross into the united states, walmart pays the tariff. if walmart decides to pass the cost to consumers, then you paid the tariff, not china. >> so if you go to walmart, if you go to target, you're going to see higher price for imported goods. >> reporter: economist mary lovely studied trump's proposals for the peterson institute for international economics, a leader in non-partisan research. >> the argument is made that if tariffs are imposed american consumers will buy less of the foreign goods, more domestically produced goods, and that's a great thing for consumers and for jobs. >> well, it's a great thing for consumers if you don't care about how much they are able to buy. because the prices of everything they buy will go up. will they substitute toward domestic goods? let's just take that to start. yes, to some extent they will. but the prices of

you know, it's hard to get economists to agree on anything.y are nearly united in believing that the tariffs on china and mexico and canada would reduce u.s. growth and boost inflation, though, of course, they disagree on how much all but one of the forecasters in our last cnbc fed survey predicting lower gdp in 2025. the average is -0.6. the range is all the way up to -2%. all but one forecast higher inflation, with prices expected to rise by an average of 0.4% above what they otherwise would be. economist joel naroff writes in with the survey if the tariffs remain in place for any extended period of time, firms looking to maintain earnings might start raising prices. john donaldson from haverford trust says to my knowledge, there has never been a happy outcome from a trade war. nobody's happy about this in this survey anyway. keys to the impact, though. how long the tariffs last? with most thinking they'll be short term. in fact, 70% say six months or less, with the plurality being less than three months. that's 44%. and just a chunk say tha