Uncertainty around trade policy is weighing on Wall Street, according to Bloomberg. President Trump plans to impose a baseline tariff on all U.S. imports and add steeper duties on countries with the most significant trade gaps. Economists and Wall Street firms warn that steep tariffs could increase inflation, harm employment, increase recession risks, and drag down year-end stock market forecasts. Marko Papic of BCA Research warned that making steep tariffs permanent could trigger lasting de-globalization, likely lead to a recession, and drive markets further downward. For more coverage on tariffs and how they impact your portfolio, visit benzinga.com.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Uncertainty around trade policy is weighing on Wall Street and according to Bloomberg,
00:06President Trump plans to impose a baseline tariff on all U.S. imports
00:10and add steeper duties on countries with the biggest trade gaps.
00:13Economists and Wall Street firms warn that steep tariffs could drive up inflation,
00:18harm employment, increase recession risks, and drag down near-end stock market forecasts.
00:23Marko Papic of BCA Research warned that making steep tariffs permanent
00:28could trigger lasting deglobalization, likely lead to a recession,
00:32and drive markets further downward.
00:34For more coverage on tariffs and how they impact your portfolio, please visit Benzinga.com.
00:39For all things money, visit Benzinga.com slash GSTV.