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The level of tariffs announced last week in the USA has greatly exceeded expectations and significantly increased the odds of a recession.
That’s the assessment of AVIXA economist Peter Hansen, after the announcement of new tariff rates including 54% for China, 46% for Vietnam and 32% for Taiwan.
In comments shared with AV Magazine at the end of last week, he said: “We have primarily been talking about tariffs as a disrupter of process and price rather than a headwind to total demand, but this week’s news is bearish on that score.
“We are significantly more likely to see substantial demand reductions and a possible recession now than we were pre announcement.”
US president Trump has argued that the tariffs are like a medicine which is necessary to correct trade imbalances between the USA and other countries.
Hansen has recently recorded two videos on tariffs. The first offers a short introduction to five things you should know about tariffs.
A second video takes a more in-depth look at the impact of tariffs with AVIXA vice president of market intelligence Sean Wargo here: How Tariffs Can Impact Your Pro Audiovisual Business? | Xceptional Insights, Ep. 19
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