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
Whoopi slammed for saying being Black in US is like living in Iran

Whoopi Goldberg criticized for comparing being Black in the US to living in Iran

Black Americans are slamming Whoopi Goldberg after she claimed on The View that living…
What does bombing Iran mean for the US?

Implications of a Potential US Bombing of Iran

() The U.S. conducted three strikes on nuclear facilities in Iran on…
Pope Leo 'concerned' about AI's impact on children

Pope Leo Worried about how AI will affect kids

(The Hill) — Pope Leo XIV sounded the alarm this week over…
US bombs Iran: US airstrikes in Iran hit 3 nuclear sites, Donald Trump says, joining Israeli air campaign | LIVE

Live Updates: Iran Targeted by US Airstrikes on 3 Nuclear Facilities, According to President Trump, in Coordination with Israeli Attacks

WASHINGTON — President Donald Trump said Saturday that the U.S. military struck…
Here’s what a post-Ayatollah Iran could look like if war with Israel leads to regime’s fall

Here’s what a post-Ayatollah Iran could look like if war with Israel leads to regime’s fall

NEWYou can now listen to Fox News articles! As the Iranian regime…
Israel says it killed Iranian commander who helped fund, arm Hamas

Israel says it killed Iranian commander who helped fund, arm Hamas

NEWYou can now listen to Fox News articles! The Israel Defense Forces…
Anne Burrell's shock death under police investigation

Police investigating unexpected death of Anne Burrell

The death of a beloved celebrity chef is being investigated as a…
Israel and Iran launch new strikes even as diplomatic effort gets underway

Israeli attacks target Iranian nuclear research site, amid preparation for extended conflict

TEL AVIV, Israel — Israel’s military said Saturday it struck an Iranian…