US Edition'Biggest shock in history': Nobel Prize-winning economist sounds alarm on Trump's new move
- President Donald Trump has imposed steep new tariffs on imports, causing the Dow Jones Industrial Average and the S&P 500 to fall sharply.
- Economist Paul Krugman described these tariffs as the "biggest trade shock in history," warning that they could push the U.S. Into a recession due to increased uncertainty in trade policy.
- Countries like Canada and the European Union are preparing to retaliate with their own tariffs in response to the U.S. Actions, straining international relationships.
- Critics argue that Trump's tariff policy may not raise the expected revenue while harming average Americans and domestic manufacturing, leading to increased costs for consumers.
5 Articles
5 Articles
Trump's Tariffs: How to Lose Friends and Impoverish Americans
President Donald Trump reads The New York Post as he arrives at Trump National Golf Club in Florida, Saturday 5 April 2025.Photo: Alex Brandon/AP Photo/AlamyAmidst all of the Trump campaign propaganda about how bad Joe Biden’s economy was and how the Donald would be the only person to ‘make it great again,’ one comment from Elon Musk that went almost unnoticed, might end up being the only true thing this administration ever says.A week before th…
'Biggest shock in history': Nobel Prize-winning economist sounds alarm on Trump's new move
Late Friday afternoon, April 4, a Reuters headline read, "Trading Day: Trump Tariffs Wipe $5 Trillion Off Wall Street." The Dow Jones Industrial Average and the S&P 500 were plummeting in response to steep new tariffs that President Donald Trump is imposing on a long list of countries, and many economists are warning that consumers can expect to pay higher prices for everything from fruits and vegetables to computers to vacuum cleaners to clothe…
Coverage Details
Bias Distribution
- 100% of the sources lean Left
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
