It’s Not Just Tariffs: US Growth Risks Are Piling Up Under Trump
Workers unload steel from a freight ship in the dockyard at the Port of Detroit in Detroit, Michigan.
Photographer: Matthew Hatcher/BloombergThis article is for subscribers only.
President Donald Trump’s latest trade-war salvo, the largest act of American protectionism since the 1930s, will likely put the brakes on US growth in the near term – and it’s just one of the shocks piling up for increasingly nervous consumers, businesses and investors.
There’s also Elon Musk’s cuts to the federal workforce, the clampdown on immigration, and a potential drag on business investment amid so much policy uncertainty. Add it all up, says the growing consensus among economists, and it spells a slowdown for the world’s biggest economy.