JPMorgan is dialing back its recession forecast following President Donald Trump’s temporary tariff rollback on Chinese imports. The bank now estimates the chance of a U.S. recession in 2025 has dropped below 50%, down from a 60% likelihood previously projected.
After two days of high-level negotiations in Geneva, President Donald Trump's top trade officials reported significant progress toward a new U.S.-China trade agreement.
In a significant development, Chinese President Xi Jinping has dispatched Minister of Public Security Wang Xiaohong to Switzerland for high-level trade negotiations with the United States.
President Donald Trump’s aggressive tariff strategy is delivering a major boost to American manufacturers, with new orders and job growth climbing as companies move away from Chinese suppliers. A 145% tariff on Chinese goods has made American-made products more competitive, forcing many firms to reshore operations and invest in U.S.-based production.
President Donald Trump attributed recent stock market declines to former President Joe Biden's economic policies, distancing his own administration's tariffs from the downturn.
U.S. Treasury Secretary Scott Bessent said the administration is "very close" to completion of multiple trade deals with U.S. trading partners in Asia.
