Analysts: Trump tariffs ‘worse than the worst case scenario’ for tech investors
- U.S. Stocks fell significantly after President Donald Trump announced tariffs of at least 10%, causing the S&P 500 to drop 3.6% and the Dow Jones to lose over 1,300 points.
- The effective tariff rate for China has risen to 54%, exceeding investor expectations and raising fears of inflation and recession, as stated by the White House.
- Economists and lawmakers warned that the tariffs act as a tax on American consumers and could cost families over $3,500 annually.
- Analyst Bonawyn Eison described the tariffs as 'probably worse than the worst-case scenario' for the economy, highlighting their unprecedented scale.
24 Articles
24 Articles
'Even Mike Pence knows': Internet erupts after Trump’s former VP skewers his new tariffs
Shortly after President Donald Trump issued Wednesday’s announcement of new tariffs, four Senate Republicans joined Democrats to extend a lopsided bipartisan rebuke to his trade policy. The Senate adopted a resolution by a 51 to 48 vote to block his proposed tariffs on imports from Canada, a longtime US ally. Now, former Vice President Mike Pence is further infuriating Trump supporters by calling out his new tariffs as “a tax.”Pence cited a stat…
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