Alex Kirsman, the regional director and head of the Asia and Pacific region at the investment company PIMCO, stated that there is a probability of about 35% this year for the United States to enter a recession, which is higher than the 15% probability projected by the company in December of last year. This comes in connection with the start of the implementation of trade tariffs, introduced by President Donald Trump.
Trump announced on Tuesday that the tariffs on Canadian imports of steel and aluminum will increase to 50% in response to a 25% increase from Canadian Prime Minister. Kirsman noted that the risks associated with the U.S. entering a recession in 2025 have increased due to the imposed tariffs.
