Trump tariffs likely to spur recession: Moody's economist
Share and Follow


() President Donald Trump’s reciprocal tariffs will be a “bold and risky” move, Sen. Ron Johnson said Thursday on ” Now.”

“Tariffs are a double-edged sword,” Johnson said. “But this is something he fervently believes in and has felt this way for a long time.”

On Wednesday, which the president has called “Liberation Day,” Trump put tariffs on a large number of foreign nations. A majority of those have been set at half the tariffs those countries have put on goods from the U.S. A 10% baseline was placed on all countries where reciprocal tariffs were not specified.

Trump has promised that tariffs will bring about “the golden age of America,” but economists have warned that a recession could happen.

Some lawmakers believe the tariffs have gone too far. On Wednesday, Republican Senators Rand Paul and Mitch McConnell of Kentucky, Susan Collins of Maine and Lisa Murkowski of Alaska voted with Democrats to undo Trump’s 25% tariffs on Canadian imports.

Johnson said he voted against undoing the tariffs and accused Democrats of trying to damage Trump.

“I want to see the president succeed,” Johnson said.

Johnson said since the announcement, he has heard about commitments to trillion-dollar investments in the U.S. and countries dropping their tariffs, which he said Trump and his advisers see as benefits despite some short-term impacts.

“I hope they’re right,” Johnson said.

Share and Follow
You May Also Like
Hot-air balloon fire in Brazil kills eight people

Tragedy in Brazil as eight individuals die in hot-air balloon accident.

According to the pilot, who was one of the survivors, a fire…
Absent for ICE: Trump immigration enforcement hits school attendance, study shows

Trump’s immigration policies are causing a decline in school attendance due to ICE-related absences, study finds

(The Hill) President Trump’s immigration crackdown is exacerbating the already precarious problem…
Gabrielle Union reveals the 'stupid' purchase she made with her first big paycheck

Gabrielle Union shares the ‘regrettable’ purchase she made with her first major earnings

Gabrielle Union candidly revealed she spent her first big paycheck on a…
Anthony Volpe breaks out of slump to provide needed Yankees spark

Anthony Volpe overcomes performance struggle to ignite Yankees team

Anthony Volpe struck out to lead off the bottom of the second…
Jacksonville 18-year-old charged in deadly double shooting, police say

Police Say Jacksonville Teenage Suspect Charged in Fatal Double Shooting

Police identified the victims as 19-year-old Rubisnney Giraldo-Mina and 41-year-old Larry Baldwin…
Top Republican turns on Trump after 'unconstitutional' strikes

Prominent Republican criticizes Trump for ‘unconstitutional’ attacks

Members of Donald Trump’s MAGA base rushed to embrace the president following…
88 children removed from Iowa church camp in abuse probe

Investigation leads to the removal of 88 children from Iowa church camp due to abuse concerns

COLUMBUS JUNCTION, Iowa (WJW) Authorities in Iowa said 88 children were taken…
Trump declares 'spectacular military success' after Iran bombings

Trump claims ‘impressive military achievement’ following airstrikes in Iran

President Donald Trump described the recent attacks on three Iranian nuclear sites…