A third global recession in 20 years looms
A truly enormous shock is needed to tip the entire global economy into recession. Since World War II, there have been two such events — the financial crisis of 2008-9, and the COVID-19 pandemic of 2020.
Why it matters: Trump’s “Liberation Day” tariffs, if they’re kept in place and especially if they face retaliation from targeted nations, could be the third such economic earthquake in 17 years.
Follow the money: The U.S. imported $3.3 trillion of goods in 2024 — that’s more than $25,000 per household.
