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May 8th news, according to Jinshi reports, U.S. President Trump stated that we have reached a major agreement with the UK. The trade agreement with the UK will reduce non-tariff barriers for American goods. The United States will raise $6 billion in external revenue by imposing a 10% tariff on the UK.

May 8th news, according to Jinshi citing CNN, Goldman Sachs has warned that Trump's global trade war could negate much of the progress made in the battle against inflation. The Wall Street bank told clients in a report on Wednesday that due to the harmful combination of high tariffs and a weakening dollar, key inflation indicators are expected to surge in the coming months. Goldman Sachs currently expects the core inflation rate (excluding food and energy) to accelerate from 2.6% in March to 3.8% in December. This is based on the PCE price index favored by the Federal Reserve. Goldman Sachs believes that the price increase will be much greater than the Federal Reserve's March forecast, at which time the U.S. had not yet announced the largest scale of tariffs. The Federal Reserve expects the core PCE inflation rate to be 2.8% in December. Worse still, Goldman Sachs expects the core goods inflation rate to soar from 0.4% in March to 6.3% in December. By December, the prices of used cars (+8.3%), home appliances (+7.8%), video/audio/computers (+7.7%), jewelry/watches (+5.9%), and pharmaceuticals/medical (+7.8%) will rise significantly.