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"Leo Leiderman, a renowned macroeconomic commentator, believes that Trump's tariffs could be the black swan of 2025, leading to a slowdown in international trade, global activity, and a rise in inflation and interest rates. He notes that Israel is not directly affected by the trade war, but could still feel the indirect effects of a global slowdown. Leiderman also analyzes the motivations behind Trump's tariffs, including reducing the US current account deficit, increasing state revenue, and protecting domestic industries."
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