高盛：2025年美国经济分析：政策不确定性对投资、雇佣及消费者支出的影响报告（英文版）

Measures of policy uncertainty have far surpassed levels reached during the first Trump administration and could rise further as new policies are announced and other countries respond to US tariffs. Much of the very recent rise in uncertainty was related to President Trump’s “reciprocal” tariff plan, but even with the details of the policy now in hand, considerable uncertainty about how the policy might evolve, how other countries might react, and the potential for further tariff increases re