Overview

• President Donald Trump has defended his tariff policies, describing them as necessary for 'bringing wealth back to America,' despite growing concerns about their economic impact.
• Economists and financial institutions, including JP Morgan and Goldman Sachs, have raised the likelihood of a U.S. recession due to the tariffs imposed on Canada, Mexico, and China.
• The stock market has experienced significant losses, with the S&P 500 suffering its worst week since September, as businesses and investors react to the new trade measures.
• Republican lawmakers, including House Speaker Mike Johnson, have urged patience, framing the economic turbulence as a necessary step in reshaping the U.S. economy.
• Democrats and some business leaders have criticized the tariffs, warning of increased costs for American consumers and potential long-term harm to the economy.