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JPMorgan Raises Risk of a Recession to 60%, As Tariffs are Set to Take a Toll

  • President Trump announced new tariffs on imports from most countries on Wednesday.
  • Trump declared a national economic emergency to restore fairness to global trade and generate revenue.
  • The tariffs include a baseline 10% tax, with higher rates for some nations like China and the EU.
  • Economist Michael Feroli stated Trump's policies take the economy 'perilously close' to recession; Trump stated that other nations have 'looted, pillaged, raped and plundered' the country.
  • Analysts predict these tariffs could lead to a recession and higher consumer prices.
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Business Insider broke the news in United States on Wednesday, April 2, 2025.
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