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

Goldman Sachs Group Inc said on Sunday that fears of the U.S.-China trade war le...

Containers are seen at Yantian port in Shenzhen, Guangdong province, China July 4, 2019. REUTERS/Stringer

“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. The United States also declared China a currency manipulator. China denies that it has manipulated the yuan for competitive gain. Goldman Sachs said it lowered its fourth-quarter U.S. growth forecast by 20 basis points to 1.8% on a larger than expected impact from the developments in the trade tensions.

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