More tariffs, more economic anxiety.

For Marketplace, I'm Sabri Beneshore, in for David Brancaccio.

On Wednesday, President Trump is expected to announce a tsunami of new tariffs.

There's been a lot of mixed messaging on how broad these would be, but over the weekend,

the president said these tariffs would apply to all countries.

Markets today are down sharply here and abroad. Julia Coronado is here to talk about it. She's founder of

macro policy perspectives and a professor at UT Austin. Hi, Julia. Good morning. So, you know,

we've known that these so-called reciprocal tariffs were coming for a while. So why do you think there's

been this sharp reaction now? Well, I think there was still some lingering hope that this would be

a bargaining tactic and that as we got closer to the date, there would be negotiations.

And instead, what we're seeing is escalation of threats. GDP growth has been

slowing down the past few quarters. Do we think, and that's natural, that's sort of expected,

but do we think tariffs are going to be enough to actually hoist the economy into an actual

recession? Any more clarity on that? You know, the rule is that the U.S.

economy is a giant diversified ocean liner that is very difficult to tip over. So will a trade war be

enough by itself to tip the U.S. economy into a recession. That's still not the base

case of most investors in the market, but there is growing concern that a combination of factors,

a trade war and maybe other disruptive policies cuts to spending that disrupt certain industries

could be enough to tip the U.S.

economy over.

Giulio Coronado, founder and president of macro policy perspectives.

Thank you so much.

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