Citigroup expects the biggest impact of tariffs on U.S. economic growth to be felt in the second half of the year
Citigroup's chief economist, Hitz, said on Tuesday that the probability of a recession in the US economy is 40% to 45% due to the impact of President Trump's tariffs on other trading partners. Hitz expects US GDP to grow in the second quarter, mainly driven by consumers rushing to buy goods before the tariffs take effect. He said the biggest impact on US economic growth is expected to be seen in the second half of this year. "Tariffs are a stagflationary shock to the US economy," Hitz said.
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