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Report
J.P Morgan warns of increasing risk of recession
The Street
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4/3/2025
Kelsey Barberio brings you the biggest news of the day, including why a U.S. recession is more likely than it was just a few months ago.
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Sports
Transcript
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00:00
As President Donald Trump continues to implement tariffs on U.S. trade partners,
00:04
a new JP Morgan report says it could cause a global recession.
00:08
The newly announced tariffs, if enacted, would raise the U.S. tariff rate to 25%.
00:13
That, according to the report, would hurt U.S. growth and drive up inflation.
00:17
The new tariff increase would account for 2.2% of the total GDP,
00:21
and it would add 2% to the current consumer price index.
00:25
Of the tariffs, the report said,
00:26
this shock will likely be magnified by its impact on sentiment and through the
00:30
retaliation of countries facing significant increases in their tariff rates.
00:34
Stocks have already felt the effects of Trump's announcement,
00:37
as all major indexes opened deeply in the red on April 3rd.
00:40
That'll do it for your daily briefing.
00:42
From New York City, I'm Kelsey Barberio with The Street.
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