Wall Street firms are warning that the risk of the U.S. economy falling into a recession are rising as President Trump's tariff plans could lead to an escalation of the trade war.

President Donald Trump said on Wednesday he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners, a move that could escalate a trade war and upend the global economy.

Donald Trump announced a sweeping new set of reciprocal tariffs on Wednesday, arguing that they would allow the United States to succeed. "This is one of the most important days in my opinion in American history,

U.S. President Donald Trump further escalated a trade war on Wednesday by announcing he would impose reciprocal tariffs to match duties put on U.S. goods by other countries.

Jittery investors flocked to safe-haven assets on Thursday and pushed gold to a record high after U.S. President Donald Trump unleashed more aggressive-than-expected import tariffs, kicking into higher gear an already heated global trade war.

Despite the president’s false claims, Americans actually pay U.S. tariffs — meaning his “liberation day” announcement is about liberating Americans from their money Billionaire entrepreneur Mark Cuban says he doesn't need a political title to shake up big systems—and if he were ever asked to replace Elon Musk in running the government,