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Trump's Tariffs Risk Global Depression, Warns ICC Chief

3/5/2025

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Wilson Warns Tariffs

Andrew Wilson of the International Chamber of Commerce sounds the alarm: President Trump's hefty tariffs on Canada and Mexico could plunge the world into a depression akin to the 1930s. With a staggering 25% tax on goods from these neighbors and 20% on China, stock markets are faltering, igniting widespread fears of an impending recession.

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Trump's Tariffs Threaten Economy

The Atlanta Fed's GDPNow model warns of a looming 2.8% contraction in the U.S. economy for Q1 2025, igniting fears of a recession. This troubling forecast comes on the heels of President Trump's heightened tariffs on imports from Canada, Mexico, and China, which critics, including financial mogul Warren Buffett, believe will drive up prices and stifle growth.

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Wilson Warns Tariffs

Andrew Wilson of the International Chamber of Commerce sounds the alarm: President Trump's hefty tariffs on Canada and Mexico could plunge the world into a depression akin to the 1930s. With a staggering 25% tax on goods from these neighbors and 20% on China, stock markets are faltering, igniting widespread fears of an impending recession.

1 / 2