Former U.S. President Donald Trump plans to implement “reciprocal tariffs” on April 2, matching tariffs imposed by other countries on American goods. However, uncertainties remain regarding how these tariffs will be calculated. Analysts warn that the policy could increase costs for U.S. consumers and businesses, potentially leading to a recession. Goldman Sachs raised its U.S. recession probability to 35% and revised its GDP growth forecast downward. Critics argue that the tariffs could disrupt global trade, drawing comparisons to the 1930 Smoot-Hawley Tariff Act, which worsened the Great Depression. April 2 could mark either Trump’s “Liberation Day” or the start of a global trade war.
Source – Chen Guifang
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