Trump Tariffs Sink Global Economy Outlook

“Global fund managers have turned startlingly pessimistic when it comes to the chances that the world will be able to withstand the effect of across-the-board U.S. tariffs — and they’re particularly bearish when it comes to the U.S. itself,” Axios reports.

Key takeaway: “49% of them said that a hard landing is now the most likely outcome for the global economy, up from 6% in February and 11% in March.”

Wall Street Journal: “In the past three months, economists have changed their outlook for the U.S. to slower growth, higher inflation and greater risk of recession. The changed consensus in The Wall Street Journal’s quarterly survey reflects President Trump’s trade war. Several economists noted frequent shifts in tariff policy have made their forecasts unusually uncertain.”