A Cyclical Review of the US Economy Amid Trump’s Economic Shocks

By Nato Balavadze

10 April 2025

In this paper, we discuss:

• Recent macroeconomic developments, with recession risks mounting;
• Trump’s recession strategy: is it a calculated gamble? 
• The “Liberation Day” tariff announcements;
• Trade wars and Tariffs: economic consequences and global retaliation;
• The impact on the US labour market at the time of DOGE’s job cuts; and
• Trump’s deficit strategy ahead of large refinancing needs. 

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