As President Trump approaches a July 9 deadline for imposing new tariffs on multiple countries, including allies like Japan and South Korea, concerns grow over potential economic repercussions, with experts warning of a recession. Meanwhile, US manufacturing shows mixed signals, with recent PMI data indicating ongoing contraction, despite a modest employment increase in the sector over the past five years.
Explain It To Me Like I’m 5: The U.S. economy is worried because President Trump is planning to add big taxes on goods from many countries, which could make things more expensive and hurt jobs.
Want More Context? 🔎