🌎 The US economy could face turbulence as agencies slash growth forecasts ahead of President Trump's April 2 tariff expansion dubbed 'Liberation Day.' With new reciprocal taxes following his "We tax you what you tax us" mantra, analysts warn of ripple effects from Silicon Valley to Main Street.
🚨 Why it matters: These tariffs – justified by claims about immigration, drug trade, and trade deficits – are expanding from targeted goods to universal applications. Think of it like a viral TikTok challenge gone global: one economic policy sparks copycat measures worldwide.
💼 Professionals take note: The Peterson Institute predicts a 0.5% drop in US GDP growth, while Morgan Stanley warns of "stagflation-lite" risks – slower growth paired with pricier electronics, cars, and appliances. Globally, the WTO says this could reduce worldwide trade growth by 1.3%.
🤔 Cultural angle: Dubbed 'Trade Wars 2.0' by Gen-Z economists on Twitter/X, the policies aim to boost US manufacturing but could backfire like a poorly received Netflix sequel. As supply chains shift, Asian tech hubs like Seoul and Taipei brace for impact.
