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Stocks, the economy, and the entire world order are at risk if Trump doubles down on tariffs, Deutsche Bank says

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Deutsche Bank researchers say tariffs are the "biggest shock to the global trading system" since the 1970s and the "largest tax increase for the US consumer" since Vietnam War .

They say existing trade regime has correlated with ballooning US wealth.

Ending it could raise costs for companies and narrow their profit margins, weighing on their stock prices.