The Trump administration's implementation of tariffs on imports has stirred global markets and heightened recession fears among economists and consumers alike. Following the announcement, Goldman Sachs increased the likelihood of a U.S. recession to 45%, with the potential for revision if the tariffs are enacted. JP Morgan also raised the global recession risk to 60%, attributing this partly to possible inflation from tariffs. Despite growing calls for delay from various stakeholders, administration officials have reiterated their commitment to these tariffs, emphasizing a focus on negotiating with affected countries.
The Trump administration's new tariffs have fueled concerns over a potential recession, with Goldman raising U.S. recession odds to 45% assuming tariffs are rolled back.
JP Morgan increased the risk of a global recession to 60% post-tariff announcement, indicating the tariffs will likely spur inflation.
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