Trump loosening his strict views on tariffs and what he expects from China comes at a time when analysts were speculating that the economy could be headed toward a recession. A looming recession wouldn’t be in the president’s favor. It could especially harm his re-election in 2020. Being a president in a time of potential recession or a recession itself is a massive hole to dig out of.
Consumer confidence has dropped 6.4% since July. The Federal Reserve Chairman, Jerome Powell, said, “Weak global growth and trade tensions are having an effect on the U.S. economy.” But then we have Trump and the White House’s chief economic adviser, Larry Kudlow, saying the opposite and defending the president’s use of tariffs on China.
No one likes to admit their idea isn’t working, especially the president. However, I do believe he might be coming around... a little bit. Especially when meeting with the CEO of one of the U.S.’s top tech companies.
The next few months are going to be very important, and the decisions that get made in these months will outline the future of the U.S. economy.
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