As President Trump pursues what appears to be a global trade war, and flip-flops between imposing tariffs and allowing delays and exemptions, his erratic actions are triggering fears of a recession in the U.S. That includes from Billionaire Ray Dalio, who said he’s “worried about something worse than a recession.”
Prof. Richard Wolff, an American Economist and founder of Democracy at Work, noted that Trump’s tariffs stand to isolate the U.S. from the rest of the world and while “the long term damage that this could do to us is incalculable,” the fact that Trump is willing to take such a risk tells us that “the problems in the U.S. are a lot more severe than we’ve been led to believe.”
Follow Prof. Wolff on X, and check out his new book 'Understanding Capitalism'
SOURCE LINKS:
14 April 2025 - Trump threatens new tariffs on smartphones days after exempting them
4 April 2025 - Trump tariffs: American businesses are ‘angry,’ worried about survival, and say keeping prices low will be ‘really hard’
11 April 2025 - China raises duties on US goods to 125%, calls Trump tariff hikes a 'joke'
9 April 2025 - Charted: What does the U.S. export to China
14 April 2025 - Billionaire Ray Dalio is worried Trump’s tariff war could spark ‘something worse’ than a recession
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