The administration has now signed limited deals with South Korea and Japan, and is awaiting congressional approval of a revised North American Free Trade Agreement. The pain has spread beyond the United States and China, exacerbating a global economic slowdown, particularly in Europe. On Wednesday, retail sales in the United States fell for the first time in seven months as consumers slowed spending, particularly on autos. In new forecasts released Tuesday, the International Monetary Fund lowered its expectations for global growth in 2019 to 3%, the lowest rate since the financial crisis. But policymakers said Trump’s trade policies could help tip the global economy into recession.

Source: bd News24 October 17, 2019 03:56 UTC