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Trump’s next economic threat: Surging gas prices

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A sharp spike in gas prices could slam the brakes on all of that.

The result: The economic and political benefits Trump and the GOP hoped to reap from cutting tax rates could be swamped by higher pump prices that Americans face every time they hit the road. But the first clear impact of higher gas prices emerged in the latest retail sales figures, which showed a 0. Higher gas prices will lead to stronger profits for oil and gas companies, but less spending on everything else and potentially higher inflation.

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