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Consumers Brace for Higher Prices as New Tariffs Take Effect

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As a new wave of President Donald Trump’s tariffs is set to begin Thursday, rising prices from all the tariffs could cost the average American family $2,400 in 2025 according to a new estimate from the Yale Budget Lab. Meanwhile, Trump is facing new questions after firing the head of Labor Department after a weaker-than-expected July jobs report that he says is “rigged.” NBC’s Kelly O’Donnell reports for TODAY.

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