The Consumer Technology Association, which puts on the world’s biggest text show, the Consumer Electronics Show, in Las Vegas, is speaking forcefully against the latest round of tariffs on imported goods from China that took effect on Sunday.
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Elon Musk is returning from China with a tax break for his electric car company. And he praised China to boot.
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Overnight, 15% US tariffs on Chinese goods worth an estimated $110 billion kicked in, as did Beijing’s retaliatory tariffs on about $75 billion worth of US goods.
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Trade war fears are rattling investors. But is the recent volatility in the global stock and bond markets really a sign that a recession might be lurking just around the corner? Not so fast.
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For the first time since the eurozone crisis which began a decade ago, the world’s biggest wealth manager is bearish on stocks.
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“In my view, the new tariffs are not enough to prompt a recession,” he told WRAL TechWire. “But if enacted, they will continue to cause slower growth in the economy.”
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China on Friday announced tariff hikes on $75 billion of U.S. products in retaliation for President Donald Trump’s planned increase, deepening a trade war that threatens to tip the global economy into recession.
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Warning bells are going off about a possible recession in America, perhaps in time for the 2020 election. The key to whether the US economy keeps growing or stalls rests largely on consumers, and whether or not they keep spending. Here’s what to be watching for if a recession is to come.
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President Donald Trump and his advisers insist their trade war with China won’t hurt American consumers. But analysts say otherwise.
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