The United States and China are in the midst of a tariff battle that has roiled markets. There are also signs that the world economy is slowing, and that’s prompted fears of recession.
University of Minnesota Professor of Economics Timothy Kehoe was recently a guest on the Dialogue Minnesota podcast with Jim du Bois to discuss trade tensions, their impact on Minnesota-based companies such as Best Buy and Target, and the overall state of the economy.
According to Bloomberg, high-level talks between the U.S. and China are expected to begin Thursday, with President Donald Trump saying Monday that he's aiming to agree to a "big deal," although Bloomberg notes that China may not be interested in that approach to discussions.
The trade war has had a major impact on the world economy, with Bloomberg saying things have spiraled "into a deeper slowdown" that will undoubtedly be impacted postively or negatively based on Trump's tweets.