Ray Dalio Warns U.S. Economy Faces Crisis Worse Than Recession Due to Trump's Tariffs

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Updated Apr 15, 2025, 07:21 PM

Ray Dalio, the billionaire founder of Bridgewater Associates, has expressed significant concerns about the U.S. economy, warning that it is on the brink of a recession due to President Donald Trump's tariff policies. In an interview on NBC News' 'Meet the Press,' Dalio stated that the U.S. is 'very close to a recession' and he fears 'something worse than a recession' if these economic challenges are not managed effectively. Dalio highlighted that the current economic situation is reminiscent of the 1930s, pointing to a combination of factors including tariffs, debt, and shifts in global power dynamics that could lead to severe disruptions. He emphasized that the U.S. is transitioning from a multilateral to a unilateral world order, which is causing global conflict and a breakdown of the monetary order. The hedge fund manager criticized Trump's tariff approach as 'very disruptive,' likening it to 'throwing rocks into the production system.' He suggested that the U.S. government should aim to reduce the federal deficit to 3% of GDP to manage the economic situation better, warning that failure to do so could lead to a supply-demand problem for debt and exacerbate economic challenges.

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Sources

fortune.com(3)cnbc.com(3)youtube.com(2)reuters.com(2)

PBD Podcast

@PBDsPodcast

“Break Down Of The Monetary System” – Ray Dalio FEARS Trump Tariff War May SPARK Global MELTDOWN @patrickbetdavid @ericbolling @ChrisCuomo @TomEllsworth @VincentOshana https://t.co/LCsoI8WkXY

The Economist

@TheEconomist

Donald Trump’s volatility means that the impact of tariffs is hard to assess. But the balance of probabilities is that things will be bad this year, and potentially quite a bit worse in the years to come https://t.co/zbw78g6neG

FORTUNE

@FortuneMagazine

In an interview at the 2023 #FortuneGlobalForum, Bridgewater Associates founder Ray Dalio cautioned that the technology war between the U.S. and China "isn’t going away.” https://t.co/zumNtOE3VZ https://t.co/YC43vtkTE2