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CEOs Are in Distress and Consumers Fear Job Losses Amid ‘Stagflation Shock,’ Economist Warns

April 29, 2025

by Amanda Gerut
MSN

The recent array of tariffs the Trump administration has announced have the potential to trigger a recession by summer 2025, according to a new report from Apollo Global Management.

Based on Apollo’s potential sequence of events, shipping containers from China to the U.S. slowed down after President Trump’s Liberation Day tariff address this month. Allowing for 20-to-40 days travel time, containers shipped to U.S. ports could halt in May. By mid-May, that would portend a rapid slowdown in demand for trucking, which would be followed by less stock in stores for people to purchase. With those signs, that would mean sluggish sales in spring, while subsequent layoffs in retail and trucking could come by late May and early June. Then, in summer 2025, a full recession could take root.

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