According to Odaily Planet Daily, according to a report from the Peterson Institute for International Economics, if the tariff policy mentioned by Trump during the campaign is implemented, it will exacerbate the distortions and burdens of existing tariffs and cause huge damage to the US economy.
Mark Zandi, chief economist at Moody's, said if Trump raises tariffs, the economy would likely fall into recession quickly, adding that this also includes the likelihood of retaliatory measures from other countries.
Zandi predicts that inflation will rise by 0.7 percentage points in the year after the tariffs are implemented.