Moody's: If Trump doesn't lift tariffs, fasten your seatbelt and prepare for the impact

According to a report by Jin Shi, some economists are concerned that if Trump does not quickly lift the latest round of tariffs, it may plunge the US economy into recession. If the US government implements these higher tariffs without significant exemptions, the economy will find it difficult to digest this. A recession seems more likely to occur, "said Mark Zandi, Chief Economist at Moody's Analytics. Zandi said, "In many ways, the tariffs announced by Trump are even worse than the worst-case scenario he envisioned. If they persist to the end, I will fasten my seatbelt and be prepared to deal with the impact." Zandi added that on a static basis, tariffs account for nearly 2% of GDP (without considering the impact of tariffs on the economy and taxes), making this round of tariffs the largest tax increase since the tax hikes used to fund wars during World War II.