Kelsey Barberio brings you the biggest news of the day, including why a U.S. recession is more likely than it was just a few months ago.
Transcript:
As President Donald Trump continues to implement tariffs on U.S. trade partners, a new JPMorgan report says it could cause a global recession.
The newly announced tariffs, if enacted, would raise the U.S. tariff rate to 25%. That, according to the report, would hurt U.S. growth and drive up inflation. The new tariff increase would account for 2.2% of the total GDP, and it would add 2% to the current consumer price index.
Of the new tariffs the report said, “This shock will likely be magnified by its impact on sentiment and through the retaliation of countries facing significant increases in their tariff rates.”
Stocks have already felt the effects of Trump’s announcement, as all major indexes opened deeply in the red on April 3.
Subscribe |
Earn. Live. Invest. |
TheStreet Pro |
#tariff #presidenttrump #inflation
source
