WASHINGTON – Never mind the market swings and ongoing trade wars. The U.S. economy will remain strong through 2020 and beyond, President Donald Trump's advisers on the economy and trade said Sunday.
“There is no recession in sight," top White House economic adviser Larry Kudlow said on "Fox News Sunday."
White House director of trade policy Peter Navarro likewise said on the Sunday news circuit that trade negotiations with China are going well and steps being taken by the Federal Reserve and the European Central Bank will keep the global economy humming.
The Dow Jones Industrial Average suffered its worst plunge of the year Wednesday, caused in part by fears of a worldwide recession and global trade wars.
The market returned to positive territory midday Thursday. But jitters remain.
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There's still the ongoing trade war with China, for example. The Trump administration announced last week it would delay until Dec. 15 tariffs on Chinese goods that were supposed to go into effect in September.
Kudlow said negotiations continue. If ground rules and other issues can be worked out in the next week or two, Chinese officials could come to Washington for face-to-face discussions.
"We are doing very well with China, and talking!" Trump tweeted Sunday afternoon.