Trump, tariffs and Recession
Digest more
Top News
Overview
Impacts
CNBC |
Should other countries respond to Trump's tariff hikes by raising duties of their own, an escalating conflict could evolve into a t
Bloomberg L.P. |
Trump announced the steepest American tariffs in more than a century, with a 10% tariff on all exporters to the US and even higher duties on some 60 nations.
Reuters |
U.S. drinkers will pay more for cocktails, champagne and foreign beers, brands will disappear from bar menus and jobs will be lost on both sides of the Atlantic as a result of U.S. President Donald T...
Read more on News Digest
13hon MSN
President Donald Trump has announced far-reaching new tariffs on nearly all U.S. trading partners — including a 34% tax on imports from China and 20% on the European Union, among others.
Key Takeaways Economists say President Donald Trump's Wednesday announcement of broad-based tariffs on trading partners worldwide will likely push up inflation and increase the chances of a recession.
This policy change is stirring a mix of reactions among consumers and experts alike, leading many to wonder what financial impact this could have on their everyday lives.
President Donald Trump's widespread tariffs could put the U.S. economy "perilously close to slipping into recession" by driving up inflation and hurting consumer spending, JP Morgan's chief economist Michael Feroli has said in a note.
Financial markets declined markedly after President Donald Trump unveiled steeper-than-expected retaliatory tariffs.
IMF Chief Kristalina Georgieva expressed concerns over US tariffs, stating they pose a significant risk to global growth. She urged the US to collaborate with trading partners to mitigate trade tensions,
In 2021, as the US economy recovered from the pandemic, consumer prices began to creep higher. Federal Reserve officials said then that rising inflation would only be “transitory.”
Economists say the "direct" impact of US President Donald Trump's new tariff regime on Australia's economy will be small, but the "indirect" impact could be a problem for Australia, depending on how the tariffs disrupt trading patterns and damage global growth.