"We have downgraded our 2025 US GDP growth forecast from 2.4% at the start of the year to 1.7% now (both on a Q4/Q4 basis). ...The reason for the downgrade is that our trade policy assumptions have become considerably more adverse and the administration is managing expectations towards tariff-induced near-term economic weakness."
-Goldman Sachs

Wall Street is telling the #TrumpMusk regime that its approach is wrong, it must make an about face.

#Recession #Tariffs #USPol bbc.com/news/articles/cz61nn99…

Trump says US economy in 'transition' as trade war escalates

New retaliatory tariffs from China targeting some US farm products came into effect on Monday.

^{João da Silva (BBC News)}