London CNN —
Inflation is likely to rise in the United States and around the world if newly elected US President Donald Trump follows through on his campaign promises to cut taxes, crack down on immigration and hike tariffs on all imported goods.
Together with a Republican majority in the US Senate, Trump’s historic reelection, which CNN projected Wednesday, puts the former president in a strong position to implement his potentially radical economic agenda.
US stock markets opened sharply higher, buoyed by Trump’s decisive victory. Treasury yields — or market interest rates — spiked, while
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