Trump tariffs raise U.S. recession and stagflation risks
The world's biggest economy is already slowing. Tariffs will make things worse.
The U.S. economy faces a sharp and near-term recession risk as a result of the tariff plans unveiled last night by President Donald Trump, Wall Street economists warned Thursday, with the chances of slowing growth and faster inflation also adding to stagflation concerns in the world's biggest economy.
Trump unveiled what many believe to be the largest and most comprehensive tariffs in more than a century during a Wednesday event in the Rose Garden he dubbed "Liberation Day." He detailed levies of between 10% and 50% on virtually every U.S. trading partner in the world.
