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Hey there from CNN. I'm Krista Bow with the five things you need to know for Monday, March 31st.

The odds of a recession are rising as President Donald Trump's trade war escalates.

That's according to Goldman Sachs's latest forecast.

The Wall Street Bank now sees a 35% chance of a recession in the next 12 months, up from 20%.

Trump promises that this Wednesday, April 2nd, will be so-called Liberation

Day, when he imposes reciprocal dollar-for-dollar tariffs on nations that levy duties on U.S.

goods. He has also said a 25% tariff on all car and car parts imported to the U.S.

will take effect starting on Thursday. It's a move that Trump says is meant to raise revenue for the U.S.

and spark more car manufacturing in America.

But there's no such thing as an all-American car.

All 10.2 million cars built in U.S. factories last year were built with a significant

number of imported parts, mainly from Canada and Mexico.

Brian Barnett is the Republican mayor of Rochester Hills, a suburb of Detroit.

He says his community is bracing for the impact of these tariffs.

The scenario is pretty simple, at least what most people think is, you know, higher tariffs lead to higher costs.

Higher costs leads to lower demand,

lower demand leads to lower production. And ultimately, that's where it becomes a mayor's issue,

...