Economists are increasingly concerned that President Trump’s imposition of tariffs on Canada and Mexico could lead the U.S. economy towards a recession. These tariffs threaten to stifle corporate hiring and complicate the already challenging landscape for American manufacturers operating on a global scale. As the pieces of the economic puzzle shift due to trade tensions, many believe the consequences could be dire for the nation’s economic stability.
Carl Tannenbaum, chief economist at Northern Trust, articulated the potential fallout, predicting, “Simulations have been done on the full tariffs against China, Canada and Mexico and, if you believe them, we’ll be in recession in nine to 12 months.” His words reflect a growing apprehension among financial analysts as they examine the broader implications of these trade measures on employment and financial health.
President Trump’s tariffs on Canada and Mexico have sparked fears of a looming recession in the U.S. Many economists warn that these tariffs could harm corporate hiring and complicate global operations for manufacturers. Carl Tannenbaum of Northern Trust predicts a recession could hit within nine to twelve months if these tariffs persist.
In summary, the potential impact of Trump’s tariffs raises significant concerns about the risk of recession in the United States. With many economists, including Carl Tannenbaum, warning that these measures could lead to an economic downturn in the near future, the stakes for corporate hiring and manufacturing remain high. The unfolding scenario suggests a need for vigilance and adaptation in response to the evolving trade landscape.
Original Source: www.marketwatch.com
