President Donald Trump’s trade war sparked a sharp stock market selloff and revived fears that the economy could stall. Most economists still aren’t anticipating that the US will fall into an actual recession in the next year, but they do say the chance of an economic contraction has increased. Another worry, in the view of economists and market watchers, is the risk that a slowdown in growth will occur alongside accelerating inflation, a dreaded scenario known as stagflation.

Trump announced new tariffs in late March on imported automobiles and promised to unveil other tariffs on US trading partners on April 2. Prices of all kinds of consumer goods, including cars, electronics and toys, are expected to rise if tariffs remain in place.