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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.
A strong majority, 74%, of U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the U.S. by the end of 2021.
Business economists are expressing optimism that tax cuts and increased government spending will accelerate economic growth over the next two years.
A poll released by a business group Monday found that a majority of its members believe that the U.S. economy would be adversely affected if President Donald Trump follows through on his threats to withdraw from the trade agreement.
Sales and profits picked up for companies at the end of last year, and more say they’re paying their workers higher wages and salaries in the latest signs that the U.S. economy continues to improve.