Trump's Tariffs Risk $2 Trillion Global Economic Fallout

President Trump's renewed use of tariffs as leverage on U.S. trading partners has led to both intended and unintended consequences, including strong retaliatory tariffs from countries such as Canada and China and increased tensions with the European Union. These aggressive trade measures have not only shaken global stock markets but also cast doubt on the globalisation model long championed by the U.S. and threatened decades of market integration. Public confidence in the American economy has declined, with a majority of Americans now pessimistic about their personal finances, job prospects, and the stock market's outlook. Economists warn that the nature and implementation of these tariffs increase the risk of what is termed a 'voluntary trade reset recession,' as sudden supply chain disruptions could have severe economic consequences. Bloomberg Economics estimates that the ongoing trade war could cost the global economy as much as $2 trillion. Despite some measured responses from international partners, concerns remain high about broader economic fallout if tariffs are maintained at current levels.