Reported 12 months ago
During the first presidential debate in 2024, President Biden's poor performance increased the likelihood of Trump's reelection. Distinguished economist Nouriel Roubini, known as the 'Doomsday Doctor,' warns that if Trump imposes comprehensive tariffs, it may trigger a global trade war, damaging stock and bond markets. Goldman Sachs also predicts that tariffs could lead to renewed price pressures, possibly requiring the Fed to raise interest rates five times to tame inflation. Roubini expressed concerns about Trump's protectionist measures causing inflation and threatening markets globally, especially if trade partners retaliate against the US. Trump's threat to impose up to a 60% tariff on Chinese goods and a 10% tariff on all imports to the US raises worries about escalating trade tensions and uncertainties.
Source: YAHOO