Goldman Sachs warns of a 45% recession chance after market turmoil, citing tariffs and economic downturn risks.- Watch Video on English Oneindia

Trump's blanket 10% tariff policy has economists and markets forecasting higher inflation and recession risk through 2025.

Goldman Sachs said it expects Chinese policymakers to accelerate fiscal easing measures significantly to offset the drag on growth from higher tariffs announced by the United States last week that were higher than expected.

The economy was chugging along. Then came President Trump’s dramatic tariff increase.

President Donald Trump's sharp tariff hikes last week have sent the stock market into a tailspin, raised alarm bells among Wall Street executives, and heightened many economists' worries that the U.S.

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.

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.

The Trump administration's tariffs are fueling concerns about a potential recession, with several major banks increasing their forecasts. What is recession and who declares one?