This Goldman Sachs Exchanges podcast discusses the implications of the recent surge in tariff announcements. The panel, comprised of Goldman Sachs economists and strategists, analyzes the speed and scale of these tariffs compared to the 2018-2019 trade war, noting a faster and potentially larger impact. They assess market reactions, predicting a mid-single-digit increase in the effective tariff rate, with a potential for higher increases depending on the implementation of reciprocal tariffs. The economic consequences discussed include a possible 0.25% slowdown in US growth and a larger impact on China, with uncertainty affecting other economies. The panel concludes that the situation remains highly uncertain, with key announcements and developments expected in the coming weeks.
