Ray Dalio Warns Trump’s Shifting Tariff Policy Could Spark Crisis ‘Worse Than Recession’

Ray Dalio warns that President Trump’s tariff policies, combined with rising debt and global tensions, could lead to a breakdown of the U.S. “monetary order,” causing disruptions far more severe than a typical recession. He compares current conditions to the 1930s, citing risks of internal political conflict, international power shifts, and economic instability that could escalate into a global crisis if poorly managed.