A protracted trade war could trigger a global recession and shift the balance of power in ways that fundamentally undermine U.S. standing in the world.

China's economy grew by 5.4% in the first quarter year-on-year as a tit-for-tat trade war with US President Donald Trump escalates. The numbers beat expectations but this data cov

China's economy expanded at a robust 5.4% annual pace in January-March, supported by strong exports ahead of U.S. President Donald Trump’s rapid increases in tariffs on Chinese exports. Analysts forec

The Fed chief warns higher inflation is likely, although officials routinely say their outlook depends on how Trump’s policies — on trade, immigration and more — shake out.

The administration is implementing major shifts in economic policy, and trade is now at the center of it,” Powell said. “These changes are likely to push us further away from our goals.” He explained that the tariffs announced by Trump turned out to be significantly higher than expected — and the economic fallout will likely be just as steep,