usa news: The concern about the tariffs imposed on China, Mexico and Canada by Donald Trump is increasing whether there is a slowdown in the country. Now many Americans are considering how much there is a possibility of recession and if the economy faces a decline then what will be its effects.
According to the Wall Street Journal, Goldman Sachs has recently increased the possibility of recession in the US from 15% to 20% next year. The firm warned that if the Trump administration maintains its policies despite extremely poor economic data, then this possibility may increase further.
Learn what is recession & nbsp;
Negative real growth up to two consecutive quarters in GDP growth is usually considered a recession. GDP means the total value of goods and services produced during a certain period in a country.
Although according to the Bureau of Economic Research, the recession is defined as a significant decline in economic activity, which spreads throughout the economy and persists for several months.
An estimate of the possibility of recession
Meanwhile, according to Bloomberg, economists of JP Morgan Chase have estimated the possibility of recession to be 40%, citing excessive American policies. John Holcock Investment Management told six major things that could occur during the recession: increasing unemployment, increase in savings, manufacturing and service fall, falls fall, prices fall, low interest rates and more government spending.
Trump said this thing & nbsp;
In an interview to Fox News, Donald Trump said, ‘I do not like to predict such things. This is a period of change, because what we are doing is a big step. We are bringing back money in America, and this is a big thing. Trump further said, ‘It takes some time, you have to be patient. But I think it will prove to be very beneficial for us. ‘