{"id":1052426,"date":"2025-04-07T20:41:33","date_gmt":"2025-04-08T00:41:33","guid":{"rendered":"https:\/\/democrats.org\/?p=1052426"},"modified":"2025-04-07T20:41:33","modified_gmt":"2025-04-08T00:41:33","slug":"economy-braces-for-trump-recession-as-prices-rise-401ks-tank-and-americans-reject-trumps-unaffordable-agenda","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/economy-braces-for-trump-recession-as-prices-rise-401ks-tank-and-americans-reject-trumps-unaffordable-agenda\/","title":{"rendered":"Economy Braces For \u201cTrump Recession\u201d As Prices Rise, 401(k)s Tank, and Americans Reject Trump\u2019s Unaffordable Agenda\u00a0"},"content":{"rendered":"\n
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Donald Trump spent his campaign lying about lowering costs \u2014 but from Day One, he has failed to deliver and instead is now tanking the economy. As business leaders fear a \u201cTrump recession,\u201d<\/a> prices are rising<\/a>, 401(k)s<\/a> are plummeting, and even Trump\u2019s team can\u2019t agree<\/a> on a way out of the disaster they created. While Trump doesn\u2019t \u201cmind\u201d<\/a> the economy falling apart and skyrocketing prices, working families are struggling to put food on the table and pay rent \u2014 and they\u2019re taking notice<\/a> of Trump\u2019s failed agenda.<\/p>\n\n\n\n

Here\u2019s a look at the chaos Trump\u2019s unaffordable agenda is unleashing: <\/em><\/p>\n\n\n\n

CNBC<\/a>: \u201c\u2018This is the Trump recession,\u2019<\/strong> CEOs say, with tariff price increases, job losses coming<\/strong>: CNBC survey\u201d <\/p>\n\n\n\n

\u201cOver the weekend and on Monday morning, more Wall Street figures began speaking out about the hit to business confidence and the coming hit to the economy, from hedge fund manager Bill Ackman to JPMorgan Chase CEO Jamie Dimon. \u2026<\/p>\n\n\n\n

\u201cA majority of CEOs (69%) expect a recession \u2026 <\/strong><\/p>\n\n\n\n

\u201cA little over one-third of CEO respondents (37%) said they do expect to cut jobs this year \u2026 <\/strong><\/p>\n\n\n\n

\u201cAlmost all CEOs whose companies sell goods and services said price hikes are coming, anywhere from 5% to 20%, and the vast majority (82%) expect \u2018resurgent inflation.\u2019<\/strong>\u201d <\/p>\n\n\n\n

CNN<\/a>: \u201cThis is the stock market\u2019s worst start to a presidential term in modern history\u201d<\/strong> <\/p>\n\n\n\n

\u201cThe S&P 500 had lost 15% of its value since Inauguration Day as of Sunday night. And that doesn\u2019t even count the massive losses set for Monday\u2019s opening bell. \u2026<\/p>\n\n\n\n

\u201cThe awfulness of the past two days of trading were matched only by the 1987 crash, the 2008 financial crisis and the Covid crash of 2020. \u2026 <\/strong><\/p>\n\n\n\n

\u201cThe hole blown in Americans\u2019 401(k) plans and investment portfolios is so massive<\/strong> that it will be hard to ignore. And if consumers stop spending, all bets are off in this economy.\u201d <\/p>\n\n\n\n

Bloomberg<\/a>: \u201cPrice Hikes Are Already Rolling in From Tariff-Hit Businesses\u201d<\/strong> <\/p>\n\n\n\n

\u201cThe impact was immediate: [Small business founder Bernie] Thompson<\/strong> checked on the laptop docking stations, USB adapters and other products currently stuck on ships en route to the US and realized they will now incur several hundred thousand dollars in tariffs he hadn\u2019t factored in.<\/strong> \u2026<\/p>\n\n\n\n

\u201cTo stay competitive, Thompson said most of Plugable\u2019s popular products will see prices rise by as much as 30%<\/strong>. \u2026<\/p>\n\n\n\n

\u201cThe Bogg Bag company<\/strong>, known for its brightly colored $90 perforated tote bags, is also raising prices by $5 a bag to partially offset the import tariffs. \u2026 <\/strong><\/p>\n\n\n\n

\u201cChad Lee\u2019s company, FOAM<\/strong>, imports travel coolers made of Croc-like rubbery foam from China. His tariff bill for a recent shipment just rose to more than $22,800 from about $4,500. He has raised the price of his coolers from $99 to $125.\u201d<\/strong> <\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cThe chairman of the White House Council of Economic Advisers acknowledged there are \u2018conflicting narrative\u2019 coming out of the administration<\/strong> on whether they are open to deals to reduce tariffs. \u2026 <\/p>\n\n\n\n

\u201cStephen Miran [said] the president would \u2018welcome\u2019 offers to lower tariffs<\/strong> and other trade barriers. That speech happened just after White House trade and manufacturing adviser Peter Navarro penned an op-ed declaring \u2018this is not a negotiation\u2019<\/strong> with respect to tariffs. And earlier, Treasury Secretary<\/strong> Scott Bessent tweeted that the administration would \u2018open negotiations\u2019 with Japan.\u201d<\/strong> <\/p>\n\n\n\n

###<\/p>\n","protected":false},"excerpt":{"rendered":"

Donald Trump spent his campaign lying about lowering costs \u2014 but from Day One, he has failed to deliver and instead is now tanking the economy. As business leaders fear a \u201cTrump recession,\u201d prices are rising, 401(k)s are plummeting, and even Trump\u2019s team can\u2019t agree on a way out of the disaster they created. While […]<\/p>\n","protected":false},"author":293,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1052426","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nEconomy Braces For \u201cTrump Recession\u201d As Prices Rise, 401(k)s Tank, and Americans Reject Trump\u2019s Unaffordable Agenda\u00a0 - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/economy-braces-for-trump-recession-as-prices-rise-401ks-tank-and-americans-reject-trumps-unaffordable-agenda\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-08T00:41:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png?w=1024\" \/>\n<meta name=\"author\" content=\"Shelby Reese\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shelby Reese\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/economy-braces-for-trump-recession-as-prices-rise-401ks-tank-and-americans-reject-trumps-unaffordable-agenda\/\",\"url\":\"https:\/\/democrats.org\/news\/economy-braces-for-trump-recession-as-prices-rise-401ks-tank-and-americans-reject-trumps-unaffordable-agenda\/\",\"name\":\"Economy Braces For \u201cTrump Recession\u201d As Prices Rise, 401(k)s Tank, and Americans Reject Trump\u2019s Unaffordable Agenda\u00a0 - 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