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Goldman Sachs economists say fears rise that U.S.-China trade war leading to recession

Goldman Sachs economists say fears rise that U.S.-China trade war leading to recession

Goldman Sachs economists fear recessionGoldman Sachs Group Inc (GS.N)  said on Sunday that fears of the  U.S.-China trade war leading to a  recession are increasing and that Goldman no longer expects a trade deal  between the world’s two largest economies before the 2020 U.S.  presidential election.

“We expect tariffs targeting the  remaining $300bn of US imports from China to go into effect,” the bank  said in a note sent to clients.

U.S. President Donald Trump  announced on Aug. 1 that he would impose a 10% tariff on a final $300  billion worth of Chinese imports on Sept. 1, prompting China to halt  purchases of U.S. agricultural products.

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Source: Goldman Sachs economists say fears rise that U.S.-China trade war leading to recession

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