- United States
- Pa.
- Letter
Trump's threatened tariffs pose a severe risk of triggering a recession according to economic experts. Goldman Sachs recently raised the odds of a recession within a year to 35%, citing the tariffs as a major factor. Widespread tariffs could cripple businesses by raising costs on imported raw materials and forcing them to increase prices, driving away consumers. This could spark a vicious cycle of declining business investment and consumer spending that defines a recessionary spiral. While the economy currently appears strong, the uncertainty around Trump's tariff policies is already eroding consumer confidence. With consumer spending making up two-thirds of economic activity, any tariff-induced pullback by shoppers could be devastating. I urge you to take these warnings seriously and take action to prevent Trump from implementing broad new tariffs that could plunge the country into recession.