• 10 things you need to know before the opening bell

    25 days ago - By Business Insider

    Here is what you need to know.
    Trump seems to be backing down in the trade war with China. President Donald Trump and his administration have taken a softer tone against China in recent weeks, and talks between the two sides have restarted ahead of the G20 summit in Buenos Aires, Argentina, scheduled for the end of November.
    A top economist warns Trump's China trade war is doing more damage to the US economy than people think. "We expect a material slowing in the fourth quarter of this year - so right now - into the first quarter of next year," Seth Carpenter, UBS' top US-focused...
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  • A top economist warns Trump's China trade war is doing more damage to the US economy than people think

    A top economist warns Trump's China trade war is doing more damage to the US economy than people think

    25 days ago - By Business Insider

    Seth Carpenter, the most senior US economist at UBS, says that the trade war is already having an outright negative impact on the US economy.
    UBS expect that the tariffs will halve the speed of GDP growth in the world's largest economy this quarter.
    They will also lead to the collapse of many small manufacturing firms, which have wafer thin margins, and will not be able to adapt to rising prices.
    "We are outliers compared to the rest of Wall Street in terms of how big an effect the tariffs have on the US economy."
    President Donald Trump's trade war is already wiping out small American...
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