Trump’s staggering reciprocal tariffs could backfire and lead to recession

As Donald Trump unveils the list of countries affected by reciprocal tariffs, an expert has warned that this aggressive trade policy could ultimately hurt Washington.

In just two months at the White House, the U.S. president has disrupted the global economic order, signing a flurry of executive orders and imposing tariffs on multiple countries.

"The bulk of tariffs are borne by American consumers in the form of higher prices," said Mark Zandi, chief economist at Moody's Analytics.

"A combination of the tariffs and the retaliation will weigh heavily on the economy and in many scenarios may push us into a recession," he added.

During his speech, Trump defended his trade strategy, arguing that it puts an end to years of unfair trade practices and ushers in a new era of American independence.

The U.S. president also took aim at the European Union and China, accusing them of "ripping off" the United States.

(QG - Source: Newsweek - Picture : © Unsplash)