Billionaire Ray Galio It states that the war of tariffs for the president United States, Donald TrumpThis helped pushing the United States close to the recession – or perhaps “worse”.
“At this time, we are in a decision -making point and very close to the recession,” said the founder of Bridgewateer Associa, one of the world’s largest hedgehog wallpapers, for NBC’s Meet the Press on Sunday (13).
“I am worried about something worse than stagnation if it is not well managed.”
Dalio, who properly predicted the 2008 financial crisis, is part of a growing choir, including the large Wall Street banks, concerned that the customs tariff can harm the largest American economy in the world.
“If you are considering tariffs, debts and growing power that challenges the current power, if you take these factors and analyze changes in requests and systems, it is very worrying. It is given, it can produce something much worse than the recession. It can be given well,” he said.
Dalio added that the way in which customs duties are implemented, either “stable” or “chaotic and annoying” that make “all the difference in the world.”
But so far, the way Trump has followed the customs tariff plan – designed to re -manufacturing to the United States and increase jobs and tax revenues – “very annoying”, adding that prices are “how to throw stones in the production system.”
Trump’s definition attack has sparked turmoil in the global market in recent weeks, which has increased fears of economic slowdown.
Last week, Trump announced a 90 -day break in all “mutual” definitions, with the exception of those imposed on China, which increased to at least 145 %.
However, some Chinese electronic products, including smartphones and computer screens, will be exempted from these 145 %, according to a customer warning on the American border that was published on Friday.
These products, however, are still subject to a rate of 20 % imposed on China.
The recession indicates a continuous decrease in economic activity, and is often measured by two quarter or more of the negative growth. Economists in Goldman Sachs expect a 45 % chance of stagnation in the United States in the next 12 months.
Before Trump announced a 90 -day break, they expected a stagnation as a “basis scenario”, which means that it is very likely to happen.
