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Former U.S. Treasury Secretary Yellen: The possibility of a U.S. recession has greatly increased, and Trump's tariffs will have a huge negative impact
2025-05-02 02:15:04

Odaily News According to the Financial Times, former U.S. Treasury Secretary Janet Yellen warned that Trump's tariffs will have a "huge adverse" impact on the U.S. economy because they "hinder" companies that rely on China's supply of key minerals, and Trump's broad taxation of trading partners could plunge the United States into recession. "(The tariff strategy) will have an extremely adverse impact on the United States, on consumers, and on the competitiveness of companies that rely on imported raw materials. About 40% of the goods imported by the United States are raw materials for domestic production. I'm not ready to say that I predict a recession, but it is certain that the possibility has greatly increased." (Jin Shi)