US Tariffs Announcement: President Donald Trump confirmed that tariffs will apply to all countries, not just specific ones as previously planned.
US Tariffs Announcement: The US is preparing to introduce new tariffs that President Donald Trump calls “reciprocal”—which means they will match the taxes or trade barriers other countries place on the US. However, many details are still unclear, including what exactly will happen on “Liberation Day.”Goldman Sachs economists predict Trump will set an average tariff of 15% and have also raised their expectations for inflation and lowered their forecast for US economic growth for the year.
The bank now sees a 35% chance of a recession within the next year, up from its earlier estimate of 20%. This is due to weaker growth, lower confidence, and White House officials suggesting they are prepared for some economic hardships.
Trump confirmed that tariffs will apply to all countries, not just specific ones as previously planned. Speaking on Air Force One before “Liberation Day” on April 2, he said, “We would start with all countries, so let us see what happens”—indicating a broad approach.
-With inputs from agency
