Citi expects that the greatest impact of tariffs on U.S. economic growth will appear in the second half of the year
Internet reports that Citigroup chief economist Sheets said on Tuesday that due to the impact of U.S. President Trump's tariffs on other trading partners, the chance of a recession in the U.S. economy is 40% to 45%. Sheets expects U.S. GDP to grow in the second quarter, driven mainly by consumers snapping up goods before the tariffs take effect. He said the greatest impact of U.S. economic growth is expected to be felt in the second half of this year. "Tariffs are a stagflation impact on the U.S. economy," Sheets said.
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