White House officials have created a plan to add a 20% tax on most goods coming into the U.S. This idea is being pushed by President Donald Trump, who wants to make big changes to how the global economy works.
Experts say if these tariffs are made permanent and other countries fight back with their own taxes, it could badly hurt the economy. According to Mark Zandi, chief economist at Moody’s, this could lead to a recession that lasts over a year. During that time, many people could lose their jobs, and unemployment might rise above 7%.
Note: This story was originally reported by The Washington Post.
