US Tariffs Spark Global Recession Fears: Poll

Risks are high that the global economy will slip into recession this year, according to a majority of economists in a Reuters poll, in which scores said US President Donald Trump's tariffs have damaged business sentiment.

- Reuters

BENGALURU:

Just three months ago, the same group of economists covering nearly 50 economies had expected the global economy to grow at a strong, steady clip.

But Trump's push to reshape world trade by imposing tariffs on all US imports has sent shockwaves through financial markets, wiping out trillions of dollars in stock market value, and shaken investors' confidence in US assets, including the dollar, as a safe haven.

While Trump has suspended the heaviest tariffs imposed on almost all trading partners for a few months, a 10% blanket duty remains, as well as a 145% tariff on China, the United States' largest trading partner.