President Trump’s latest move to impose additional tariffs on steel and aluminum from Canada has caused alarm on Wall Street and beyond, leading to a plunge in stock prices. Despite concerns about the impact on the economy and fears of a potential recession, Trump remains committed to his tariff policies. The uncertainty caused by the tariffs has already resulted in major U.S. companies cutting their forecasts and warning about increased costs for consumers. The situation has also prompted CEOs to express their concerns directly to Trump at a Business Roundtable meeting. While the White House downplayed Wall Street’s worries, the ongoing market turmoil has left investors and economists on edge about the future of the economy. With the potential for business cutbacks and layoffs in response to the escalating trade war, experts warn that the tariffs could lead to a self-fulfilling prophecy of recession. Despite Trump’s promises of economic growth, the looming uncertainty remains a major concern for investors and businesses alike.
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