The nation's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.
For 2020, the forecasters expect GDP growth to fall to 1.8%. They see little likelihood of a recession over the next 12 months but expect the risk to increase by late next year. "The rise in protectionism, pervasive trade policy uncertainty and slower global growth are considered key downside risks," Daco said.
The forecasters estimate just a 7% likelihood of a recession starting this year, a 24% likelihood by mid-2020 and 47% by the end of 2020. They foresee a 69% chance of a recession beginning by mid-2021.
Wow that’s hard to hear since China is the only place to do business with? No, that’s right there are other nations that are willing and able to grow bigger and stronger with us. Like the two new japan deals with agricultural and digital trade. ABC won’t report that.
'Business economists thinking' is their jobs. They have the same thinking as all the corporations/companies that are worried about less profit if they can't ship U.S. jobs overseas. This is another 'The Sky Is Falling' scare given Americans.
So, I'd like to hear from your economist experts: Does this at all benefit Russia in any way?
Bull 💩as usual from ABC
For the one's who it may hurt--- will not feel sorry for you if you voted for Trump
One thing we know for sure. It is coming and it will be a doozy as Trump is pummeling the Fed into submission and they will have no tools to fix his debacle. Of course it will be everyone's fault except for him and the Dems will have to clean it up like they did after Bush 43.
Too late, we’re already there
Weird - they said the same thing when he got elected
in Democratic times there were no trade wars
An economy reliant on China is not a economy worth having. We need to de-China the economy.
Goo Lord, stop hoping for a recession. We aren't even close to a recession. Get a life
They have predicted doom and gloom since he was elected and have been wrong every time. Just STFU for once.
Trump Wins Tariff Oscar Donald Trump won The Gold Milk?™️ award for his unprecedented performance as a *president* manipulating global tariffs. The prize honors of one of the hardest-hit groups from the ill-considered tariff wars; the U.S. dairy farmers.
It’s astounding, the number of people who support realDonaldTrump