President Trump's recently announced tariffs will significantly impact tech firms like Apple and Amazon, which rely heavily on global supply chains. Stocks of major companies such as Meta and Nvidia plummeted shortly after the announcement, with fears of rising prices and inflation mounting. Economists warn that this could lead to a severe recession, with Goldman Sachs increasing its recession probability forecast. Despite some low tariffs on select countries, the overall trend could lead to Americans facing higher costs on imported goods, raising questions about consumer acceptance of this shift.
These sweeping tariffs unveiled by US President Donald Trump will have ripple effects across the tech industry, experts assert, as stocks dive in response.
Goldman Sachs has raised the odds of a US recession in the coming year to 35 percent, showing how these tariffs are reshaping economic forecasts.
Trade expert Tibor Bersedes suggests there is no evidence that consumers will accept higher prices for US-made goods amid potential inflation.
The new tariffs on trading partners like China and Europe could result in significant price increases for consumers, contributing further to inflation.
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