recession

What Patsy Stone said about morning television on “Absolutely Fabulous” decades ago applies here: “My God! If they could market that in pill form, Switzerland would be plunged into a recession.”

Early in her remarks, she attacked the White House on the economy and warned that if Trump is "not careful, he could walk us right into a recession".

She accused Trump of an "unprecedented giveaway to his billionaire friends" and warned "he could walk us right into a recession".

The tariffs were called "reckless" by the Canadian Chamber of Commerce, whose president Candace Laing cautioned that the move would force both Canada and the US towards "recession, job losses and economic disaster".

Overall, economists think we could be looking at a hit to US growth of up to 1% - not enough to prompt a recession, but unwelcome nonetheless.