TRUMP'S TARIFFS WOULD THROW US INTO RECESSION, CAUSE STAGFLATION, WEDBUSH SAYS President Trump's latest slate of tariffs will be shown and written about for years to come because they are so illogical and absurd, Wedbush says in a research note. President Trump stunned markets by announcing a suite of tariff hikes on major trading partners, including 20% for the European Union and 34% on China. Wedbush says the tariff numbers shown by President Trump were factually incorrect of what other countries charge the US. "We have to assume this is the start of a negotiation and these rates will not hold," Wedbush says. "Ultimately our view is these numbers would throw the US into a clear recession and cause stagflation almost immediately... if they hold."