According to BlockBeats, on September 11, according to a report from the Peterson Institute for International Economics, if the tariff policy mentioned by Trump during the campaign is implemented, it will exacerbate the distortions and burdens caused by the tariffs imposed during the first term of the Trump administration (and maintained by the Biden administration) and bring huge collateral damage to the US economy.
“If Trump raises tariffs as proposed, the economy is likely to fall into recession very quickly,” said Mark Zandi, chief economist at Moody’s. He added that this also includes retaliatory measures that other countries are likely to take. Zandi predicts that inflation will rise by 0.7 percentage points within a year after the tariffs are implemented. (Jinshi)
