U.S. Economic Shake-Up: Controversial GDP Proposal and New Tariffs

In today's episode, we delve into the Trump administration's controversial proposal to exclude government spending from GDP calculations, sparking debate among economists. We also cover the newly imposed tariffs on imports from Canada, Mexico, and China, and their potential impact on the U.S. economy. Join us as we explore the implications of these significant economic changes and the global response to escalating trade tensions.Sources:https://www.argusmedia.com/en/news-and-insights/latest-market-news/2664009-atlanta-fed-model-sees-2.8pc-us-1q-gdp-drophttps://blog.independent.org/2025/03/10/trump-economic-outlook-policy-shifts-impact/https://taxfoundation.org/research/all/federal/trump-tax-cuts-2025-budget-reconciliation/https://www.morningbrew.com/stories/2025/03/04/trump-admin-wants-to-change-the-gdp-formulahttps://foreignpolicy.com/2025/03/06/nato-5-percent-defense-spending-trump-russia-ukraine/https://www.americanprogress.org/article/trump-is-sending-the-economy-in-the-wrong-direction/https://russellinvestments.com/au/blog/potential-policy-changes-us-2025https://www.invesco.com/middle-east/en/insights/is-us-headed-for-drop-in-gdp-growth.htmlhttps://www.bea.gov/news/glancehttps://insurance-portal.ca/article/president-trumps-policies-upset-economists-forecasts/https://www.invesco.com/us/en/insights/us-drop-gdp-growth.htmlhttps://www.welchforbes.com/insights/economic-outlook-march-2025/https://www.cato.org/blog/keep-politics-out-gdp-calculationshttps://time.com/7265290/is-the-us-heading-into-a-recession-under-trump-what-to-know/https://ny1.com/nyc/all-boroughs/politics/2025/03/06/donald-trump-tariffs-trade-policy-impact-on-businesseshttps://fortune.com/2025/03/07/treasury-secretary-scott-bessent-us-economy-detox-government-spending-trump/https://www.nbcwashington.com/news/business/money-report/all-negative-economic-data-is-biden-data-and-trump-will-fix-the-economy-commerce-chief-lutnick-says/3859223/?os=f%3Fno_journeys%3Dtruehttps://econlife.com/2025/03/keeping-the-gdp/https://www.ctvnews.ca/world/article/trump-declines-to-rule-out-2025-us-recession/https://www.whitecase.com/insight-alert/us-tariffs-canada-and-mexico-enter-effect-tariff-china-rises-10-20https://www.whitecase.com/insight-alert/china-retaliates-tariffs-and-non-tariff-measures-response-trumps-additional-tariffshttps://www.oxfordeconomics.com/resource/trumps-tariffs-pose-uneven-subnational-risks-across-the-eu/https://www.dentons.com/en/insights/alerts/2025/march/4/united-states-imposes-new-tariffs-on-canadahttps://www.gtlaw.com/en/insights/2025/3/tariffs-update-imposed-paused-changed-and-reciprocal-tariffs-involving-the-us-canada-china-and-mexico-as-of-march-7https://www.clearytradewatch.com/2025/03/the-eus-possible-response-to-trump-ii-tariffs/https://www.canada.ca/en/department-finance/news/2025/03/canada-announces-robust-tariff-package-in-response-to-unjustified-us-tariffs.htmlhttps://www.thompsonhinesmartrade.com/2025/03/tariffs-against-china-and-hong-kong-increase-to-20-on-march-4-2025/https://commonslibrary.parliament.uk/us-tariffs-on-eu-goods-what-could-it-mean-for-northern-ireland/https://www.cbp.gov/newsroom/announcements/official-cbp-statement-tariffshttps://www.hklaw.com/en/insights/publications/2025/03/us-implements-threatened-tariffs-on-canada-mexico-and-chinahttps://www.euronews.com/business/2025/03/07/trump-claims-us-is-being-ripped-off-by-europeans-and-globalists-as-markets-diphttps://www.canada.ca/en/department-finance/news/2025/03/list-of-products-from-the-united-states-subject-to-25-per-cent-tariffs-effective-march-4-2025.htmlhttps://sanctionsnews.bakermckenzie.com/china-retaliatory-measures-against-trump-tariffs-announced-on-march-4-2025/https://www.whitehouse.gov/fact-sheets/2025/03/fact-sheet-president-donald-j-trump-adjusts-tariffs-on-canada-and-mexico-to-minimize-disruption-to-the-automotive-industry/https://www.cbsnews.com/news/china-tariffs-us-farmers/https://www.tradecomplianceresourcehub.com/2025/03/06/trump-2-0-tariff-tra