Citi forecasts that the greatest impact of tariffs on U.S. economic growth will be felt in the second half of the year
2025-04-22 16:02:26
Mr. Sheets, chief economist at Citigroup, said on Tuesday that there was a 40-45 per cent chance of a recession in the US because of the impact of President Donald Trump's tariffs on other trading partners. Mr. Sheets predicted that second-quarter GDP growth would be driven largely by consumers snapping up goods before the tariffs took effect. He said the biggest impact on US growth was expected in the second half of the year. "Tariffs are a stagflationary shock to the US economy," Mr. Sheets said.
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