As tariffs multiply by the hour and global rivals hit back with their own measures, the landscape for trade is turning into a maze of shifting rules. Each new twist has investors and executives grappling with the big question: are we barreling toward a painful economic slowdown, or heading straight into another bout of scorching inflation? Tensions may be rattling factories and trading floors, but the true fallout is still anyone’s guess—especially when every day brings another surprise in this escalating standoff.