Stocks took a hit in after-hours trading after the commander-in-chief slapped a 10% baseline tariff on all exporters to the US as well steeper rates for nations he accuses of treating this country

The shift is particularly gloomy because Goldman for years has been one of the more optimistic houses when it comes to the outlook for growth—and it has been right.

A broad, negative impact will be felt in the economy when the new trade moves are enacted, the Goldman economic team believes.

President Donald Trump has sounded more hawkish on trade in recent days after previously downplaying his plans for new tariffs set to be announced this week, according to a new report. It comes as Goldman Sachs (GS) economists have increased their forecasted odds of a recession over the next 12 months,

Newsweek's average of the 10 most recently published polls shows Trump's approval rating has slipped to 46 percent, while 51 percent disapprove.

US President Trump's approval ratings have plummeted to a record low, driven by concerns over economic policies, trade wars, and potential recession. A recent AP-NORC poll highlights a significant drop in approval,

"I cannot think of another president in my lifetime who … knocked down the stock market simply by opening his mouth."

The sweeping tariffs President Donald Trump announced Wednesday, combined with his other import levies, likely would plunge the nation and world into a deep recession if he follows through on the plan,