Today in Focus Will Trump’s tariffs tip the world into recession?
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Apr 9, 2025 
Richard Partington, senior economics correspondent at The Guardian, dives into the chaos ignited by Trump's tariffs. He discusses the turmoil faced by global markets and Wall Street's significant losses. Despite the mayhem, Partington explores the fragile hope for recovery and how investment behaviors are shifting under uncertainty. The escalating trade war with China raises critical questions about job reshoring and the broader economic implications. He also highlights how globalization is evolving, with China's emerging role prompting new challenges for Western economies.
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Path to Recession
- Uncertainty from tariffs discourages investment and spending, causing a cascading effect.
- Job losses and company failures become self-reinforcing, potentially leading to a global recession.
Market Hopes
- Markets hope Trump's tariffs are a negotiating tactic, not a genuine belief.
- They anticipate he might withdraw them to avoid potential recessions.
China's Retaliation
- China responded robustly, stating it would reciprocate with a 34% tariff on US imports.
- They expressed readiness to defend their interests.