Learn the impact of Trump's 2025 tariff hikes, the Mar-a-Lago Accord, and expert insights on automation, global retaliation, and economic stability. Click for more.

They could not have imagined a president would use emergency authority to bypass Congress and impose tariffs on the entire world.”

First, here's a quick summary of the tariff situation. Trump proclaimed April 2 "Liberation Day," suggesting that his tariff announcements represented economic freedom for the U.S. In early March, Trump initially spoke of tariffs on imports from Canada, China, and Mexico, then said he would announce the complete plan a month later.

“If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” Trump threatened on Truth Social Monday morning.

The US president says he will introduce the additional tax unless Beijing withdraws its own 34% counter-tariff on American goods.

President Donald Trump announced an additional 50% tariff on goods imported from China, which could potentially double the price of Chinese imports. Trump's additional tariffs followed China's announcement that it was matching the "reciprocal tariff" Trump announced last week amid the new sweeping tariffs on US imports.

Polymarket, an offshore betting platform, shows a 62% chance of a recession occurring in the U.S. this year, cooling down Monday afternoon after peaking at 66% on Sunday, when Goldman Sachs economists said they expect a recession to occur if the Trump administration goes through with its tariff rates.

The likelihood of the U.S. entering a recession has jumped since President Trump announced new tariffs, according to Goldman Sachs economists.