It’s a negotiation tactic that could blow up. If experts are right, the country could be marching steadily into stagflation or a big recession.

US President Donald Trump's decision to impose a 20% tariff on goods from the European Union has sparked strong reactions from global leaders, with European Commission President Ursula von der Leyen calling it a significant setback for the world economy. She warned of severe consequences, particularly for vulnerable populations, as the new tariffs would increase costs for essential goods such as food, transportation, and medicine.

The president has dubbed his self-imposed tariff deadline “Liberation Day,” pressing forward with sweeping tariffs on Wednesday.