Good morning! It’s Daniel de Visé with your Daily Money.
With President Donald Trump imposing the largest tariffs on U.S. imports in a century, raising the prospect of sharply higher consumer prices and hammering the stock market, it may feel like the nation is already mired in recession.
Except on days when Trump metes out glimmers of hope. He has announced a 90-day pause on most of his reciprocal tariffs, exempted many Canadian and Mexican shipments from 25% duties and hinted that administration officials are making progress in tariff talks with China (a claim China has denied).
The whipsawing developments raise a pivotal question: Is the country headed for a recession in 2025, or not?
Where’s the prosperity?
Nearly 100 days after Trump took the oath of office for a second time, consumer and business sentiment is spasming from widespread federal job cuts, the ping-ponging stock market and the president’s on-again, off-again tariffs.
Leading economists are predicting the U.S. could enter a recession, and millions of Americans are struggling with the continuing high cost of gas and groceries while getting buried beneath a growing mountain of credit card bills and car payments.
Trump promised a rapid economic turnaround. He has delivered something else altogether.
Home renovation costs: through the roof?
Americans accustomed to rising prices on all kinds of consumer goods are about to experience sticker shock in a corner of the economy that’s boomed over the past few years.
From marble quarried in Italy to washing machines built and assembled all over the world, the products and materials that furnish and model our homes are global – and about to get a lot more expensive, if they are even available as the impact of tariffs kicks in.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.
