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Expert Economists on Trump's Tariffs and the Fall of World Markets - Amanpour and Company PBS
Tariff turmoil grows as markets tumble across the world after Trump said he won’t back down from his aggressive trade policies. Markets opened in bear market territory Monday -- a 20% decline from a recent peak. This followed a historic rout in Asia and massive losses in Europe.
The economy Trump inherited from the Biden administration was in a very good place. In spite of troubling inflation, a recession failed to materialize. JPMorgan Chase now says a recession is likely this year. And tariffs will raise prices by up to 2%.
Betsey Stevenson is a former economic adviser to President Obama and an economics professor at the University of Michigan. Stevenson joins the show with UM faculty colleague Justin Wolfers. - Originally aired on April 7, 2025.