‘The tariffs are a big tax increase’: Top bank crunches the numbers on how much Americans are paying for Trump’s trade regime

UBS economists have indicated that a considerable segment of the U.S. economy is currently in recession, linking this economic downturn to the tariffs implemented under Trump's trade regime. These tariffs are characterized as a significant tax increase, burdening American consumers. The findings from UBS underscore the critical intersection of trade policy and economic health, suggesting that the repercussions of such tariffs extend beyond mere trade balances to affect the overall economic landscape and consumer spending. As the economy grapples with these challenges, the analysis serves as a reminder of the potential consequences of protectionist policies on domestic economic conditions.