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Fortune
Fortune
Geoff Colvin

REVEALED: Global recession on the cards | Rare Historical Photos

Donald Trump Recession JPMorgan CEO Daily United States
(Credit: Andrew Harnik—Getty Images)
  • In today’s CEO Daily: Geoff Colvin on the effect of Trump’s tariffs on corporate profits.
  • The big story: Forecasters eye a global recession.
  • The markets: Worst since Covid in 2020.
  • Analyst notes from JPMorgan, Wedbush, UBS, and Oxford Economics on the risk of economic contraction under the new global trade rules.
  • Plus: All the news and watercooler chat from Fortune.

Good morning. Today’s worldwide economic chaos, sparked by President Trump’s new tariffs, may be shocking, but it isn’t new. A similar story played out eight years ago, in Trump’s first term as president. A look at what he did, and the repercussions that followed, is instructive for business leaders, investors, and consumers. And it is by no means encouraging.

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