Washington, Apr 3 (AP) The tariff levels are higher than many economists anticipated, causing stock markets to fall in after-hours trading.

“This is clearly worse news on tariffs than we had forecast,” said Michael Pearce, deputy chief US economist at Oxford Economics, a consulting firm.

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Pearce said he will raise his forecast for inflation this year and reduce his expectation for growth in the wake of Trump. He was already forecasting inflation to top 3% later this year, from roughly 2.5 per cent now. (AP)

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