Goldman Sachs increased its forecast for a recession on Sunday to 45% and economists warned that additional tariffs taking effect on April 9 could prompt that level to rise further.

Goldman Sachs raised the odds of a U.S. recession to 45% from 35%, the second time it has increased its forecast in a week, amid a growing chorus of such predictions by investment banks due to an escalating trade war.

Goldman Sachs has raised its 12-month recession probability from 35% to 45%, but that is set to rise further if the tariffs start this week.

One economist told Channel 2’s Richard Elliot that a recession is inevitable. Georgia Tech economics professor Tibor Besedes specializes in international trade. He said the tariffs are based more on politics than on any economic theory and that the formula used by the White House to calculate them is fundamentally flawed.

President Donald Trump’s top economic advisers brushed off recession fears Sunday and said dozens of countries are looking to negotiate for better deals, after stocks tumbled last week following the announcement of stiff tariffs against nearly all of America’s trading partners.

It could be another awful day on Wall Street after President Trump's tariffs. Investors are now worries the trade war could spark a global recession and higher inflation.