As Trump’s tariffs kick in, economist breaks down inflation and recession warning signs
Summary
The Trump administration has implemented large tariffs on goods from almost 100 countries, increasing import taxes significantly. Economist Diane Swonk explained how these tariffs might affect inflation and the risk of a recession.Key Facts
- The U.S. has increased tariffs on imports from nearly 100 countries.
- These tariffs have raised U.S. import taxes to the highest levels in almost 100 years.
- Economist Diane Swonk discussed the effects of the tariffs with Geoff Bennett.
- Tariffs are taxes on goods brought into a country from abroad.
- Inflation means prices for goods and services go up.
- A recession is when the economy gets smaller for a period of time, like when businesses make less money, and there are fewer jobs.
- Swonk analyzed how the tariffs could influence inflation and the chances of a recession happening.
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