Economists predict that Trump's presidency will lead to an increase in inflation of 0.7 percentage points a year

According to the Peterson Institute for International Economics, if the tariffs mentioned by Trump during his campaign are implemented, they will exacerbate the distortions and burdens caused by the tariffs imposed during the first term of the Trump administration (and maintained by the Biden administration) and cause huge collateral damage to the US economy. "If Trump raises tariffs as proposed, the economy is likely to fall into recession soon," said Mark Zandi, chief economist at Moody's. He also added that this also includes retaliatory measures that other countries are likely to take. Zandi predicts that inflation will rise by 0.7 percentage points within a year after the tariffs are implemented. (Jinshi)