US President Donald Trump announces new tariffs on most countries, raising fears of a trade war, according to Reuters.
“We are in the very early stages of what could, unfortunately, escalate into a serious global trade war,” said Donald Calcagni, Chief Investment Officer at Mercer Advisors.
Investors worry that Trump’s actions will hurt corporate earnings and fuel inflation. Experts interviewed by Reuters noted that discussions around the tariffs have already slowed economic growth.
Jay Hatfield, CEO of Infrastructure Capital Advisors, called the tariffs «the worst-case scenario», warning that Trump’s move could push the US economy into recession.
