An “everything, everywhere, all at once” tariff approach could not only significantly raise prices consumers pay and cause financial markets to plummet, but also tip the US economy toward a recession. Economists have expressed concerns about the economic impacts of the tariffs. Goldman Sachs analysts in a note last week said economic growth driven by Trump’s fiscal policies would not be able to make up for the damage done by his massive tariff plan. However, Trump and his advisers have repeatedly rejected the notion that Trump’s plan could backfire in any way. Leavitt said on Tuesday that Trump’s plans for tax cuts and deregulation will help lower inflation, perhaps counteracting the effect of tariffs. “It is going to work,” Leavitt said.