A policy of wide-ranging levies on foreign goods could tip the U.S. into a recession, experts said. They pointed to risks of a slowdown for businesses mired in higher tax costs, as well as a shopping slump as consumers curtail spending to pad their savings to help weather price increases and a possible economic downturn.

Trump says his new tariffs will be “Liberation Day” for America. Economists and market analysts’ views are far more ominous.

The consumer is in precarious shape ahead of the April 2 tariff date, and any further souring of sentiment could heighten risks to markets.

Recession fears are growing as Trump teases new tariffs on "all countries." And special elections in Wisconsin and Florida are an early test of how voters feel about the president's economic policy. Susan Glasser,

The prospect of an escalating trade war, along with the slide in consumer and business confidence, has nearly doubled the probability of a U.S. recession in the next 12 months, according to Goldman Sachs.

New York Federal Reserve President John Williams said on Monday that monetary policy is "well positioned" for what the economy might do this year, as he acknowledged there are risks that inflation could once again heat up.

Investors were further shaken by Trump’s weekend comment that new tariffs wouldn’t simply be “reciprocal,” but would instead affect “all countries.” Beyond our borders: Global markets also took a hit today as tariff fears triggered anxiety around the globe: “In Japan,