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Mark Zandi: Tariffs cause significant damage to U.S. economy
Mark Zandi, chief economist at Moody's Analytics, points to a year of economic data since President Trump announced higher tariffs on most imported goods.
He states that the tariffs have definitively caused substantial harm to the U.S. economy, with job growth coming to a near halt since that announcement.
Zandi previously warned that U.S. payroll job growth remained weak, noting the March gain followed a sharp decline in February and ongoing labor disruptions earlier this year. He has also pointed to the U.S. economy's growing vulnerability, saying that continued consumer strength is crucial to guard against recession risks in a separate report. His recent comments add to concerns over the impact of tariffs on overall economic momentum.
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