The US markets experienced a decline after President Donald Trump's announcement of tariffs, causing concern that the world's largest economy might face a recession. JP Morgan, a major investment bank, revised its growth projections for the US downward due to the global stock market drop, which caused a loss of over $5 trillion in value from American companies in just two days. The bank now anticipates a 1.6 percentage point decrease in US growth this year and a rise in unemployment by almost 2 million people. The imposition of tariffs on various countries by the US triggered fears of an economic crisis similar to Greece's debt situation in the UK, as well as globally. China retaliated with tariffs on US imports, exacerbating concerns about a potential global recession. Analysts warned of a negative economic spiral for the UK as a result of the trade war initiated by the US, posing significant risks to the economy. The UK's mounting debt and limited financial flexibility render it susceptible to severe economic downturns, similar to what occurred in Greece during the financial crisis. The economic strategy dependent on growth envisioned by the Chancellor might be jeopardized by the consequences of the trade war initiated by President Trump.