Washington D.C. - President Trump's planned tariff announcement on April 2nd, dubbed "liberation day" by the administration, has sparked concerns among economists about a potential recession. The tariffs, the details of which remain undisclosed, are expected to target a range of imported goods.
Economists argue that these tariffs will likely lead to higher prices for consumers as businesses pass on the increased costs. This could reduce consumer spending, a key driver of economic growth. Furthermore, businesses that rely on imported materials may face increased production costs, potentially leading to job losses.
Another concern is the possibility of retaliatory tariffs from other countries. If other nations impose tariffs on U.S. exports, it could hurt American businesses and farmers. The resulting trade war could significantly disrupt global supply chains and negatively impact the overall economy. While the administration argues that the tariffs will protect American jobs and industries, many experts believe the potential economic risks outweigh the benefits. The long-term impact of these tariffs remains uncertain, but economists are urging caution.
Economists Warn of Recession Risk After New Tariffs
President Trump is expected to announce new tariffs on April 2nd, a move he calls "liberation day." However, economists are warning that these tariffs could trigger an economic downturn. They cite concerns about increased costs for consumers and businesses, as well as potential retaliation from other countries. Experts suggest the tariffs could disrupt global trade and negatively impact economic growth.
Source: Read the original article at ABC