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The new duties, which take effect Sunday, are the latest trade row since President Trump took office and vowed to act against countries with which Washington has a large trade deficit.
Business at Targets nationwide nearly came to a halt today after a computer outage prevented customers from being able to complete their purchases, leaving long lines of frustrated shoppers.
The Fed chairman said tools used during the last financial crisis — near-zero rates and asset purchases that took the balance sheet to more than $4.5 trillion — are likely to be deployed again.
“This is a clear warning sign that the trade war is doing serious damage to the economy,” said one economist.