I think it’s going to take months for this tariff situation to stabilize. For us here in the US, economists are already predicting -1% gross domestic product growth, so if that happens, we’re halfway into a recession. The tariffs will be enough to push us over the edge.
It’s going to turn into a game of chicken to see who comes to the table first asking for a deal. If the European and Asian countries stick together, they can outlast Trump.
Trump is going to be under pressure to get this resolved before the mid-term elections next November. US presidents typically lose a few Senate and House seats in mid-terms, but after tanking the economy for no good reason, this could be a disaster for his party.
I think it’s going to take months for this tariff situation to stabilize. For us here in the US, economists are already predicting -1% gross domestic product growth, so if that happens, we’re halfway into a recession. The tariffs will be enough to push us over the edge.
It’s going to turn into a game of chicken to see who comes to the table first asking for a deal. If the European and Asian countries stick together, they can outlast Trump.
Trump is going to be under pressure to get this resolved before the mid-term elections next November. US presidents typically lose a few Senate and House seats in mid-terms, but after tanking the economy for no good reason, this could be a disaster for his party.