Goldman Sachs Says China Trade War's Effects on Economy Likely to Grow
Goldman Sachs told clients that the U.S. trade war with China could lead firms to invest, hire or produce less, according to reports about the note, sent Aug. 11. Economists at the firm now estimate the tariffs will create a…
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0.6% drag on the economy, up from an earlier prediction of 0.2%, and are forecasting fourth-quarter GDP growth of 1.8%, down 20 basis points. They also expect the List 4 tariffs to go forward as announced, starting on Sept. 1.