Donald Trump’s sweeping new tariffs are raising alarms about a potential U.S. and global recession. Economists from JPMorgan, Goldman Sachs, and Moody’s Analytics warn that the trade war could push inflation higher,

One recent report from Goldman Sachs sounded the alarm on an unintended execution that could be devastating collision course economic fallout from the White House’s bellicose tariff tactics. The financial giant believes these responsibilities will increase inflation.

Goldman Sachs expects aggressive duties from the White House to raise inflation and unemployment and drag economic growth to a near-standstill. In a note Sunday, the firm said "we continue to believe the risk from April 2 tariffs is greater than many market participants have previously assumed.